Industrial production fell more than expected in October, signaling the possibility of a steeper contraction in economic growth ahead and raising the case for a bigger government stimulus package.
The global slowdown, a consumption tax hike and a damaging typhoon contributed to a 4.2 percent slide in factory output from the previous month, matching the nation's worst drop in the past 5½ years and falling more than twice as much as economists forecasted, data from the economy ministry showed Friday.
The steep drop, following declines in retail sales and exports, comes as the government mulls stimulus measures to help the economy cope with typhoon damage, weak external demand and the hit to consumers from the tax hike.