Japan’s industrial production fell in October as demand declined and the economy slowed down

According to Japan’s Ministry of Economy, Trade and Industry (METI), industrial production in Japan fell for the second month in a row in October, mainly due to weaker external demand in the wake of the economic slowdown in China and globally.

Japanese industrial production reportedly fell 2.6% in October, following a 1.7% drop in September. Manufacturing machinery output fell 5.4% due to weak demand for semiconductor and flat panel display manufacturing equipment.

At the same time, production of parts and electronics fell 4.1% due to lower demand for semiconductors and LCDs. METI said that weak demand for smartphones and electronic devices in a large market such as China led to a decline in production in the relevant sectors.

The results of the survey of manufacturers predict that industrial production could increase by 3.3% in November and 2.4% in December.

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