Japan's factory output fell for a second consecutive month in October, as stalling global demand and lingering supply bottlenecks put a lid on manufacturers' production plans.
The feeble business activity highlights challenges for the world's third-largest economy, which has been lagging behind peers in recovering from the pandemic even as the government readies another stimulus package to counter 40-year-high inflation.
"The pickup in production is pausing. For October-December, (Japan's) production will likely be almost flat or slightly decrease from the previous quarter," said Shumpei Fujita, economist at Mitsubishi UFJ Research and Consulting, pointing to the global economic slowdown as a culprit.