Japan's industrial output contracted by 4.1 percent in September from August and 8.1 percent from a year earlier as automakers and steel mills cut production due to shrinking demand and antagonisms with China, according to the Ministry of Economy, Trade and Industry.Household spending fell an average of 0.9 percent in September from a year earlier, despite a slight gain in household income. Stronger spending by Japanese households is critical to the recovery, given that private consumption accounts for almost 60 percent of Japan's total economic activity, and the outlook for exports remains bleak.
Japan Industrial Output Falls, Unemployment Steady
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