Japan's industrial production grows below expectations

In June, seasonally adjusted data showed industrial production rose 2.0 percent from the previous month. Economists had expected production to rise 2.4 percent after falling 2.2 percent the previous month. Japan’s industrial production rose 2 percent in June from the previous month, below the 2.4 percent expected by economists. The preliminary report also showed that on an annual basis, industrial production fell 0.4 percent, a sharp reversal from the 3.1 percent increase seen in May. Japan’s ministry of economy, trade and industry said the main contributors to the increase in June were motor vehicles, electronic parts and appliances, and machinery production.