Japanese factory output dropped in April by the most since the 2011 tsunami and retail sales slid sharply as the coronavirus froze demand
AT home and abroad and the recession deepened.
Industrial production fell 9.1% from March, dropping for a third month led by falls in auto and steel output, the trade ministry reported Friday. Economists forecast a 5.7% drop. Retail sales fell 9.6% from a month earlier amid shutdowns that kept shoppers home. The projection was for a 6.9% decline.