Japan's industrial output unexpectedly drops in April
Industrial production falls 0.4% over prior month, retail sales surge 5%
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Japan's industrial output unexpectedly fell for the first time in three months in April, according to data from the Economy, Trade and Industry Ministry on Wednesday.
Industrial production declined 0.4% from a month earlier following two consecutive months of growth.
The market expected factory output to rise 0.5%.
Contributing the decline in headline figure, production of machinery, and iron and steel slipped 7.4% and 1.1%, respectively.
On an annual basis, industrial production dropped 0.3% in April.
Separate data on Wednesday showed retail sales grew 5% year-on-year in April, following a plunge of 7.2% in March.
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News ID : 2012
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