Japan's industrial output falls in November

Factory production in Japan fell for the third consecutive month in November, driven by weak demand for machinery products amid the negative global economic outlook. According to data from Japan’s Ministry of Economy, Trade and Industry (METI), seasonally adjusted industrial production fell by 0.1 percent in November compared to the previous month. Market expectations were for a 0.3 percent decline. This decline followed a 1.7 percent contraction in September and a 3.2 percent contraction in October. On an annual basis, industrial production fell by 1.3 percent. The decline was driven by a 7.9 percent decline in general machinery production and a 5.7 percent decline in production machinery. Automotive product production fell by 0.8 percent. Due to the decline in production in the month, shipments fell by 0.5 percent monthly and 0.9 percent annually. Thus, inventories increased by 0.3 percent monthly and 3.8 percent annually.