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.