Due to a fall in the production of cars and transport equipment last month, a drop in the Japanese manufacturing sector exceeded expectations. Pundits anticipated that industrial output should have decreased by 0.8% compared to April and by 2.3% in regard to May 2014. However, according to official statistics, the indicator declined by 2.2% and 4% respectively.
In April, the industrial production growth of 1.2% comparing with March and of 0.1% on a yearly basis was logged.
In regard to April, cars output in Japan tumbled by 6.3% in May. The record decline of 5.4% since 2012 was logged in the production of transport equipment. Meanwhile, May’s retail sales rose by 3% on month and by 1.7% year-on-year. Experts projected a rise of 2.2% and 1% respectively.