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Japanese Industrial Output Increases More Than Forecast in June
Japan’s industrial production increased more than forecast in June, aiding an economy that struggled last quarter with weak exports. Output rose 0.8 percent from May, when it fell 2.1 percent, the trade ministry said on Thursday. Economists had forecast a 0.3 percent gain. Manufacturers are under pressure from sluggish consumer spending at home and a slowdown in China that is sapping shipments abroad. The ministry forecast output gains to slow to 0.5 percent this month before rising 2.7 percent in August. The yen was little changed against the dollar at 123.91 at 8:55 a.m. on Thursday in Tokyo. The median estimate ... (full story)