Japan’s Factory Output Drops for Third Month in November

Factory output in Japan fell for a third consecutive month in November, weighed down by sluggish demand for machinery products in the face of a worsening global economic outlook.

With officials demanding wage increases to combat inflation, which is considered as key for the post-pandemic recovery of the world’s third-largest economy, the sluggish production bodes ill for Japanese firms.

Factory output declined 0.1% in November compared to the previous month, according to official statistics released on Wednesday, somewhat more than the 0.3% drop predicted by the market.

This was Japan’s third monthly decline, following a revised 3.2% drop in October and a 1.7% contraction in September.