• Bloomberg, reuters

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Japan’s industrial production dropped again in May even as a nationwide state of emergency was lifted, showing the severity of the pandemic’s impact on the export-reliant manufacturing sector.

Factory output fell 8.4 percent from April, the economy ministry reported Tuesday. Production slid from the prior month for a fourth time in a row, something that hasn’t happened since 2012. The result was worse than any of the forecasts from 28 analysts. The median projection was for a 5.9 percent decline.

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