| Japan revises down factory output index for May |
| Last Updated(Beijing Time):2012-07-13 14:54 |
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Japan's industrial output contracted 3.4 percent on month, compared to a 3.1 percent fall in earlier report, government data showed Friday.
The downward revision was attributed by the industry ministry mainly to slowing output in pharmaceutical products. The drop, which was worse than market forecasts, revealed the fragile recovery of the world's third largest economy.
The reading in May marked the second consecutive monthly contraction for the production index. And, analysts said the index could still suffer given the unstable fiscal situation in Europe, a major market for Japan's exports, and a power shortage this summer which forced the factories to cut energy use.
A strong yen was also slowing the output recovery in Japan, analysts said. |
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