Industrial output dropped by 1.3 percent from July to August, falling to the lowest level since May 1994, according to a revised report issued Thursday by the Ministry of International Trade and Industry.In a preliminary report released earlier, MITI said industrial output in August declined 0.6 percent.Due to a slump in auto exports and domestic sales of household electrical appliances, the shipment index declined by 1.3 percent to 97.5, while the inventory index dropped by 0.3 percent to 105.3 and the index of inventory ratio increased by 3.2 percent to 114.8, the MITI monthly report says.A MITI official expressed hope that the stimulus package implemented by the government this summer will start effectively working to expedite inventory adjustments from now on, but added that it's a touch-and-go situation with the high inventory standard of production goods.
