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Japan Manufacturing Output Edges Up In May
TOKYO (AP) — Japan's industrial output has recovered slightly in May from a decline following an April sales tax, as factories produced more machinery, vehicles and electronic devices.
The economy ministry reported Monday that output in the world's third largest economy climbed 0.8 percent in May from a year earlier, and was up 0.5 percent from the month before.
It says manufacturers are forecasting a decline in output in June before a further recovery in July and beyond.
The increase in the sales tax to 8 percent from 5 percent is expected to cause a contraction in the economy in the April-June quarter, as demand has fallen off following a rush of purchasing to beat the tax hike earlier in the year.