Japan¡¯s factory output fell for a second consecutive month in October, as stalling global demand and lingering supply bottlenecks put a lid on manufacturers¡¯ production plans.
The feeble business activity highlights challenges for the world¡¯s third-largest economy, which has been lagging behind peers in recovering from the pandemic even as the government readies another stimulus package to counter 40-year-high inflation.
¡°The pickup in production is pausing. For October-December, (Japan¡¯s) production will likely be almost flat or slightly decrease from the previous quarter,¡± said Shumpei Fujita, economist at Mitsubishi UFJ Research and Consulting, pointing to the global economic slowdown as a culprit.
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