Japan posts weak factory output in Feb
Japan’s industrial output reached low grounds in February as the country’s production of automobile and electrical machinery plunged. This, in turn, heightened concerns that the world’s third-largest economy is still struggling to emerge from the coronavirus crisis.
The country’s factory output recorded a 2.1% drop in February, official data showed on Wednesday. The figure came lower than the 4.3% jump seen the previous month and sharper than the 1.2% contraction expected in a Reuters survey
The month-on-month reading was affected by a decline in automobile, electrical machinery, and information and communication equipment. Manufacturers expect a 1.9% drop in March, and the economy is predicted to decelerate in the first quarter due to coronavirus-related measures implemented by the government.