TOKYO: Japan's industrial output shrank more than expected in August in the latest warning that the economy and its manufacturers are facing intensifying pressure amid a bitter Sino-US trade war.
Manufacturers surveyed by the trade ministry expect output to rise 1.9 per cent in September, but fall 0.5 per cent in October. The latest data showed Japan's exports slipped for a ninth month in August as the Sino-US trade war hit demand from China and other Asian trading partners. Exports in volume terms, which strips away the exchange rate impact, also fell.
Still, even as the threat of higher US tariffs on Japanese car imports was staved off, policymakers remain worried about the darkening outlook for the economy in light of frail external demand and global recession risks.
Source: Financial Digest (financialdigest.net)
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