Japan Industrial Production Drops 2.0% In July

(RTTNews) - Industrial output in Japan was down a seasonally adjusted 2.0 percent on month in July, the Ministry of Economy, Trade and Industry said on Thursday.

That missed forecasts for a fall of 1.4 percent following the 2.4 percent increase in June.

On a yearly basis, industrial production was down 2.5 percent following the flat reading in the previous month.

Upon the release of the data, the METI downgraded its assessment of industrial production, saying that it fluctuates indecisively.

According to the METI's forecast of industrial production, output is expected to rise 2.6 percent in August and 2.4 percent in September.