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Japan Industrial Output Unexpectedly Fell 1.5% in June From Previous Month
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Japan’s industrial production fell unexpectedly in June and the unemployment rate climbed to a seven-month high, signaling the nation’s export-led recovery is losing momentum.
Factoryoutput dropped 1.5 percent from May, when it gained 0.1 percent, the Trade Ministry said in Tokyo today. The median estimate of 26 economists surveyed by Bloomberg News was for a 0.2 percent increase. The jobless rate rose to 5.3 percent, the highest level since November, the statistics bureau said.
“Production will slow because exports are losing steam,” Hiroaki Muto, a senior economist at Sumitomo Mitsui Asset Management Co. in Tokyo, said before the report. “Japan will probably go into an economic... Full Story |
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Submitted Jul 29, 2010 8:18pm
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