Japan’s factory output extends declines on car production cuts

Published by
Reuters

By Kantaro Komiya and Yoshifumi Takemoto TOKYO (Reuters) – Japan’s industrial output fell for the second straight month in August as COVID-19 outbreaks elsewhere in Asia disrupted supply chains for carmakers already facing headwinds from a prolonged chip shortage. Separate data out on Thursday showed retail sales in August slipped for the first time in six months as households cut spending amid a coronavirus relapse, signalling lacklustre consumer sentiment. The data suggests the pandemic continued to gnaw at Japan’s economy this quarter, posing an immediate challenge to the next prime ministe…

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