TOKYO: Japan’s industrial production declined more than economists forecast in another sign of sluggishness for the world’s third-largest economy as it struggles to recover. Output declined 2.3 percent in May from April when it rose 0.5 percent, the Japanese Ministry of Economy, Trade and Industry reported yesterday.
The weak reading on production, along with Wednesday’s report that retail sales were flat in May and data showing another monthly drop in exports, adds to concern that Japan’s recovery is faltering after the economy returned to growth in the first quarter.
