Japan’s factory output drops 0.1 pct in June

Japan’s industrial output was down 0. 1 percent in June from the previous month, marking the third consecutive month of contraction, government report said Monday.

The index of output at factories and mines stood at 92.1 against the base of 100 for 2005, according to a preliminary report by the Ministry of Economy, Trade and Industry.

The fall was mainly attributed to sectors including transport equipment, electrical machinery, and iron and steel amid a stronger yen and the slowdown in global economy.

The ministry also said that the index of industrial shipments slipped 1.5 percent to 93.7 and that of industrial inventories declined 1.4 percent to 107.3.

The seasonally adjusted output reading followed a 3.4 percent decline in May.

via Xinhua

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza