"[Friday's] report confirmed that production has entered a soft patch"
- Satoshi Osanai, an economist at Daiwa Institute of Research
Japan's industrial output contracted 3.1 per cent from the previous month in May, the largest decline since the March 2011 earthquake, the Ministry of Economy, Trade and Industry said on Friday.
"[Friday's] report confirmed that production has entered a soft patch," said Satoshi Osanai, an economist at Daiwa Institute of Research in Tokyo. "A slowdown in global demand, especially in Europe and Asia, may weigh on production."
Stocks rose the same day after European leaders agreed on a growth plan for the region's economy.
The Nikkei 225 Stock Average gained 1.50 per cent, or 132.67 points, to 9,006.78. The broader Topix Index rose 1.49 per cent, or 11.27, to 770.08.
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