Japan industrial output dips 0.1%

This fall is following the 3.4% drop in May resulting to three straight month of losses.

According to Moody's, Japanese industrial production unexpectedly declined in June, extending losses for a third straight month. Output fell 0.1% in June, after dropping 3.4% in May. As expected, the boost from autos is fading as sales to the U.S. weaken.

"The electronics industry is performing sluggishly, as semiconductor output dragged on the headline print. Electronics parts and devices and IT equipment output will rise in July according to production schedules. This is a disappointing result."

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