TOKYO, May 30: Japan's industrial output dipped unexpectedly for a second straight month in April as demand for automobiles cooled both at home and in the United States, a key market, the government said on Wednesday.
Industrial production slipped 0.1 per cent in April, disappointing market hopes for an increase of 0.5 per cent following a 0.3 per cent decline in March.
Year-on-year, however, output was up 2.3 per cent, according to the Ministry of Economy, Trade and Industry, which said production was still on “on a moderately upward trend.” The ministry predicted output in May would rise 1.8 per cent from April, and forecast a further 1.4 per cent increase in June.
One of the big drops was in the transportation equipment, which includes automakers. Production in the sector dropped 2.8 per cent in April from March as the output of small vehicles shrank 11.2 per cent.
