Japan factory output drops for 3rd month

TOKYO (AP) ? Japan's industrial production dipped 0.1 percent in June from May, the third straight monthly decline, showing that the world's No. 3 economy continues to struggle.

The Ministry of Economy, Trade and Industry said Monday that factory output ? a key indicator for Japan's export-dependent economy ? fell on sluggish output of automobiles and electronics equipment.

Looking ahead, manufacturers project a 4.5 percent jump in factory output for July, which could overcome the drop over the previous three months. June's decline comes after a 3.4 percent drop in May and a 0.2 percent decline in April.

METI said that while shipments declined 1.5 percent in June, inventories also fell, dropping 1.4 percent.

Source: http://news.yahoo.com/japan-factory-output-drops-3rd-month-023038865--finance.html

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