Japan’s industrial production surges in July ahead of trade treaty with US


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Japan’s industrial production surges in July ahead of trade treaty with US

In context of a contemptuous business outlook along the coasts of North Pacific including a ratcheting up trade tension between South Korea and Japan, alongside latest testing of two-short range ballistic missile by North Korea, Japan’s industrial growth had reported a surprising surge in July, suggesting hopes of a free trade treaty with United States amid Sino-US trade war as early as by this month had rekindled Japan’s industrial production.

According to Japan’s government data released on Friday (August 30th), Japan’s industrial activity grew by 1.3 per cent from a month earlier. More critically, China’s industrial production data released at the same day last week had displayed a disdainful outlook with fourth consecutive month of decline in factory activity in the face of a lacerating trade spat with United States, which had already toiled trillions out the global money markets.

Aside from that, the world’s third-largest economy, Japan had been scuffling amid an unofficial boycott of its products in neighboring South Korea over a forced wartime labor issue on June, which eventually pummeled Japan’s industrial production by 3.3 per cent in June, nonetheless, July’s sharp rebound was almost entirely prodded by hopes of a free trade treaty with United States, suggested analysts.