Japan's industrial output fell 3.7 percent in January from December, a third straight monthly decline amid sluggish export demand, the industry ministry said Thursday, prompting the government to lower its basic assessment.
The month-on-month pace of decline is the largest in a year. Sagging exports to China amid a tariff war between Beijing and Washington is largely behind the "larger-than-expected" drop, a ministry official said, adding that demand from other Asian countries was also weak.
The Ministry of Economy, Trade and Industry downgraded its basic assessment, saying production is "pausing," compared with the previous month's view that industrial output was "picking up slowly."