TOKYO (Reuters) – Japanese factories are likely to cut output in July as manufacturers struggle to shake off supply disruptions and high-tech products, a Reuters poll showed on Friday. Chip shortages.
Industrial production in the world’s third-largest economy likely fell 0.5% in July, according to the median forecast of 30 Economists in Survey .
The easing of COVID-19 restrictions in China and the lifting of the pandemic lockdown in the main Chinese city of Shanghai earlier this month.
Japan’s economy bounced back at a slower-than-expected pace in the second quarter from a COVID-induced recession, with data this month showing the trade-reliant economy rebounded in the second quarter despite growing fears of a global slowdown. The country’s prospects are clouded.
Takeshi Minami, chief economist at Agriculture, Forestry, and CICC warned that Japanese manufacturers are unlikely to get out of the woods, adding that he expects demand for their products to stagnate .
“As for the outlook, semiconductor shortages are becoming a chronic disease, with caution over price spikes and accelerated growth with a high probability of overseas rate hikes,” he added. The uptick from 1.5% previously supported the view of a modest recovery in consumption from the hit of the pandemic.
METI will release factory output and retail data at 8:00: 50 August morning 31 (
GMT Aug30.
Estimated 7 The job creation and unemployment rate for the month will remain unchanged from the previous month at 1.29 and 2.6%, respectively.
Government will release employment data at 8:00: 30 August 30 (2330 GMT August29)
