Global Confidence in Chinese Leadership Falling

Japan’s industrial output fell a seasonally adjusted 0.6 percent from the previous month in July despite the government’s forecast of an increase, due in part to slowing demand overseas amid worries over the Chinese economic slowdown, data showed Monday.

The index of output at factories and mines stood at 97.7 against the base of 100 in 2010, the Ministry of Economy, Trade and Industry said in a preliminary report.

The outcome follows 1.1 percent growth in June and compares with an average market forecast of 0.0 percent growth. The ministry maintained its basic assessment of output, saying it is fluctuating without clear direction.

The index of industrial shipments decreased 0.3 percent to 96.3, while that of inventories shed 0.8 percent to 113.7.

Some economists said production of core products is expected to remain stagnant for the time being due to slack exports.

via Mainichi

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