Industrial production in Japan tumbled 25.9 percent on year in May, the Ministry of Economy, Trade and Industry said on Tuesday.
That was well shy of expectations for a drop of 11.3 percent following the 15.0 percent decline in the previous month.
On a seasonally adjusted monthly basis, industrial production sank 8.4 percent – again missing estimates for a drop of 5.6 percent following the 9.8 percent slide in April.
Upon the release of the data, the METI downgraded its assessment of industrial production, saying that it is declining rapidly.
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