Japan's industrial output shrank more than expected in August in the latest...
TOKYO - Japan’s industrial output shrank more than expected in August in the latest warning that the economy and its manufacturers are facing intensifying pressure amid a bitter Sino-U.S. trade war.
Industrial output fell 1.2% in August, government data showed, dropping at a faster pace than a median market forecast for a 0.5% decline and almost completely reversing July’s 1.3% increase. Monday’s output data paints a bleak picture for Japan’s export-reliant economy, underlining broadening stress across the manufacturing sector from slowing global growth, though service-sector activity remains firm as it is less at risk from weakness in global trade.
Japanese Prime Minister Shinzo Abe has also brought Japanese exporters some relief after signing a limited trade deal with U.S. President Donald Trump to cut tariffs on U.S. farm goods, Japanese machine tools and other products.
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