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Japan s factory output fell 5 9% in May amid pandemic and chip scarcity

Jun 30, 2021 Japan’s factory output slid sharply in May, as semiconductor shortages dented car production and manufacturers of all kinds pulled back amid yet another round of restrictions to contain the COVID-19 pandemic. Industrial production plunged 5.9% from April’s level, the trade ministry reported Wednesday. The figures were several percentage points worse than even the most pessimistic forecast among 30 surveyed analysts, the median projection having been for a 2.1% drop. Despite the worse-than-projected figures, the ministry stuck to its assessment that production is picking up. Manufacturers surveyed in the report said they plan to ramp up output this month by 9.1%, and economists said May’s output drop probably had more to do with supply constraints than a falloff in demand.

Japan s Double-Digit Expansion Signals Resilience in

Japan Clocks Forecast-Beating Quarter of Double-Digit Growth

Japan’s Double-Digit Expansion Signals Resilience in Economy Bloomberg 2/15/2021 Yuko Takeo and Toru Fujioka (Bloomberg) Japan’s economy clocked another quarter of double-digit growth and finished the pandemic year in better shape than initially expected, signaling potential for a more sure-footed recovery once a damaging state of emergency ends. Gross domestic product grew an annualized 12.7% from the prior quarter in the three months through December, the Cabinet Office reported Monday. The result was better than 22 of 24 forecasts from surveyed economists and defied a winter surge of the coronavirus. © Bloomberg Japan s economy has clocked fast growth since its 2nd quarter collapse

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