In Japan, industrial production fell further in November. Production only fell slightly, as a statement from the Ministry of Economics on Wednesday shows. However, it was the third setback in a row for the industrial companies in the world’s third largest economy.
In November, production shrank 0.1 percent month-on-month, the ministry said. Analysts had expected a slightly stronger decline of 0.2 percent. The production of export goods declined more significantly. A drop of 0.5 percent was reported here.
Total production was reported to have fallen 3.2 percent in October and 1.7 percent in September. Japanese industrial production also contracted year-on-year in November. In this regard, the ministry reported a decline of 1.3 percent.
Economists pointed to the slowing global economy. The possibility of a recession in the economies of important Japanese trading partners is weighing on the country’s industry. The continuing weakness in production should strengthen the Japanese central bank in its course of continuing to support the economy with a loose monetary policy.
