Japan factory output drops in April amid China COVID-19 lockdowns, supply disruptions
Separate data showed retail sales posted the largest rise in nearly a year as consumers stepped up spending after the government eased pandemic curbs, withstanding pressure from wider price rises that threaten to hurt demand.
- May 31, 2022,
- Updated May 31, 2022 7:52 AM IST
Japan's factories posted a sharp fall in output in April as China's COVID-19 lockdowns and wider supply disruptions took a heavy toll on manufacturers, clouding the outlook for the trade-reliant economy.
Separate data showed retail sales posted the largest rise in nearly a year as consumers stepped up spending after the government eased pandemic curbs, withstanding pressure from wider price rises that threaten to hurt demand.
Factory output dropped 1.3% in April from the previous month, official data showed on Tuesday, on sharp falls in the production of items such as electronic parts and production machinery.
It was the first fall in three months and much weaker than a 0.2% decline expected by economists in a Reuters poll.
The data comes a day after Toyota Motor Corp, the world's largest automaker by sales, missed its global production target for April after output fell more than 9% year-on-year.
Japan's factories posted a sharp fall in output in April as China's COVID-19 lockdowns and wider supply disruptions took a heavy toll on manufacturers, clouding the outlook for the trade-reliant economy.
Separate data showed retail sales posted the largest rise in nearly a year as consumers stepped up spending after the government eased pandemic curbs, withstanding pressure from wider price rises that threaten to hurt demand.
Factory output dropped 1.3% in April from the previous month, official data showed on Tuesday, on sharp falls in the production of items such as electronic parts and production machinery.
It was the first fall in three months and much weaker than a 0.2% decline expected by economists in a Reuters poll.
The data comes a day after Toyota Motor Corp, the world's largest automaker by sales, missed its global production target for April after output fell more than 9% year-on-year.