Japan's industrial output rebounded more than expected in July, offering a ...
TOKYO - Japan’s industrial output rebounded more than expected in July, offering a hopeful sign for the economy and its manufacturers pressured by slowing global demand and a protracted Sino-U.S. trade war.
Industrial output rose 1.3% in July, government data showed, more than a median market forecast for a 0.3% gain. It followed a sharp 3.3% drop in the previous month. Friday’s data set paints a mixed picture for Japan’s economy, the world’s third-largest, whose outlook has been clouded by global pressures and early signs of weakness in business sentiment.
So far, the export-reliant economy has avoided buckling under a slowdown in overseas demand and expanded an annualized 1.8% in the second-quarter, largely thanks to robust household consumption and capital expenditure. Japan’s exports slipped for an eighth month in July as China-bound sales slumped again in a fresh sign the Sino-U.S. trade war could hurt the economy.
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