Japan factory output falls 1.2% in July

Japan's factory output unexpectedly fell 1.2 per cent in July, the industry ministry says, the latest evidence turmoil overseas is damaging a recovery for the world's third-largest economy.

The decline from a month earlier was worse than a market forecast of 1.8 per cent growth. The government kept in place its assessment that factory production was stuck in a flat trend.

Growing fears about the fiscal situation in Europe - a major market for Japanese products - and a strong yen is hurting demand for products from the nation's factories.

A survey of manufacturers released with the data on Friday morning showed companies expect output to inch up 0.1 per cent in August from the previous month before tumbling 3.3 per cent in September.

Separately, other official data showed consumer prices were down 0.3 per cent on-year in July, the third consecutive month of falling prices, the internal affairs ministry said.

Japan has been in deflation for years, with a series of monetary and fiscal policy moves failing to reverse the trend.

The ministry also reported Japan's unemployment rate was flat at 4.3 per cent in July, in line with market forecasts.

Source: http://finance.ninemsn.com.au/newsbusiness/aap/8525245/japan-factory-output-falls-1-2-in-july

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