Foreign

Japan’s factory output drops to 7-year low in April due to virus outbreak

Published

on


Japan’s industrial output dropped to the lowest level in more than seven years in April due to the coronavirus pandemic, the government said in a report on Friday.


The pandemic has caused factories to halt operations as domestic and overseas demand fell significantly, the government, the report said.

According to the Ministry of Economy, Trade and Industry, the seasonally adjusted index of production at factories and mines tumbled 9.1 percent from the previous month to 87.1 against the 2015 base of 100.

The latest reading, which came on the heels of a 3.7 percent fall in March and a 0.3 percent drop in February, marked the lowest since comparable data became available in January 2013, the ministry’s data showed.

The ministry’s assessment of the country’s output, one it has not used since the global financial crisis, was lowered to “rapidly declining.”

The ministry’s data set showed the index of industrial shipments dropped 8.8 percent to 85.0, while inventories fell 0.3 percent to 106.1 in the recording period.

Looking ahead, the ministry’s survey revealed that according to manufacturers polled, industrial output is forecast to drop 4.1 percent in May before increasing 3.9 percent in June.

(XINHUA)

https://nnn.ng/japans-factory-output-drops-to-7-year-low-in-april-due-to-virus-outbreak/

FG set to support 1.7 million businesses, individuals — Minister Niger Govt opens Minna-Bida road to articulated vehicles Laloko wants 25% of local players in Super Eagles Divers rescue 5 as bus plunges into river in Ebonyi Visa Ban: FG says sanctioning electoral offenders disrespectful to Nigeria’s sovereignty Edo 2020: PDP Reps caucus condemn seige on governors by security agents APC receives former Saraki commissioner, others in Kwara Lawmaker promises APC befitting secretariat in Kwara 1,000 fans at Italian Open better than none, says Djokovic Enugu ex-governors Nnamani, Chime in closed door meeting Tinubu greets Lagos dep gov, Hamzat, at 56 Ondo 2020: Jedege advises citizens to reject violent politicians with votes Sanwo-Olu fecilitates with deputy at 56 COVID-19 FG will support MSMEs with N75bn loan — DG SMEDAN Ondo 2020: Speaker receives SDP, ADC Councillorship candidates in Ifedore Edo election: Group lauds committee over peace accord LASG plans establishing fashion hubs in Lagos Central, East Group condemns alleged vote buying video ahead Edo poll NIMR unveils COVID-19 molecular testing kit PDP alleges harassment of its governors in hotel, tells IG to vacate officers Pomp, pageantry as Akran of Badagry turns 84 Edo: INEC Chairman warns staff members against partisanship MPC: Financial experts seek monetary, fiscal policies alignment  Save us from DPO’s alleged abetting of criminals, 1004 Estate residents beg FG Edo Election: Yiaga Africa to adopt PVT methodology to check credibility of election results  Nasarawa Govt inaugurates 18-man committee on education sector Nigeria, EU envoys meet to resolve access to airspace, travel ban JOHESU strike: Medical, business activities cripple at AUTH Gwagwalada Institute wants stakeholders to develop useful curriculum in education Open Defecation: FG to use educational institutions to enlighten Nigerians NNPC shortlists 78 companies for pipelines rehabilitation bidding Flooding: Sultan visits Kebbi, seeks FG’s urgent assistance for victims NSCDC arrests 19 suspected rapists in Kaduna   Recapitalisation: AIICO not resting in its drive — MD Gov El-Rufai urges NIPSS Alumni to find solutions to banditry Edo election:Prices of livestock increase in Benin markets Strike: National Hospital Abuja witnesses low patronage Domestic oil refiners urge FG to establish modular refineries in Niger Delta Edo election: Remember your commitment to peace accord – CSOs tell political actors Kaduna Govt to revive guidance, counselling unit in public schools Osinbajo inaugurates fashion cluster shared facility for MSMEs in Lagos Kidnappers free ex-US Army officer in Ekiti School resumption: Education Commission boss tasks teachers on dedication to duty Pharmaceutical Products: Nigeria plans 60% local production Lagos NUJ: I won’t suspend legal actions on Pen Jewel Estate if elected — Ajayi Facebook announces opening of new office in Lagos FG launches 25m tree planting, distributes cooking gas cylinders Solskjaer criticises England over handling of youngster Greenwood Insecurity: NAF trains 219 Special Forces in Bauchi I was in the best of forms before Tokyo Paralympics was postponed, powerlifter Ejike says