Japan’s industrial production fell 0.3 percent in March, coming in well above the 2.3 percent decline that had been forecast in a Reuters poll. For the January-to-March quarter, industrial output rose 1.7 percent on-quarter.
Manufacturers expect April’s output will rise 2.1 percent on-month, compared with a previous forecast for 3.6 percent, according to data from Ministry of Economy, Trade and Industry (METI). The country’s economy continues to waver.
In April of 2013, the Bank of Japan launched a massive quantitative easing program, which was later expanded to purchase 80 trillion yen worth of assets a year, as a part of Abenomics – a series of policy measures unveiled under Prime Minister Shinzo Abe to jump start the economy.