Japan's Industrial Output Drops 2.3 % in May

Japan's industrial production fell 2.3 % in May from the previous month for the first decline in three months, the Japan's government said Thursday, as Prime Minister Shinzo Abe's administration struggles to achieve long term economic growth. 
Analysts polled by the Nikkei business daily had thought May's figure would be unchanged from April. 
Chemicals, electronic parts and devices, and general-purpose, production and business-oriented machinery industries mainly contributed to the decrease, the Japan's Ministry of Economy, Trade and Industry said. 
Manufacturers expect industrial production to rise 1.7 % in June and climb 1.3 % in July, the ministry's survey showed. 
The index of industrial shipments fell 2.3 % in May from the previous month to 93.8, and that of industrial inventories edged up 0.3 % to 113.7.