Japan Revises April Industrial Output Decline

April production fell 0.2 percent from 2006; decrease indicates business investments are weakening.

TOKYO (AP) - Japan revised its April industrial output data lower Wednesday, saying production declined more than previously estimated.
The Ministry of Economy, Trade and Industry said April production fell 0.2 percent from the previous year. Preliminary data had shown a decrease of 0.1 percent from a year ago.
The data indicates business investment, which accounts for 15 percent of the nation's gross domestic product, is weakening and may hamper economic development.
It was the second straight decline after a 0.3 percent drop in March. Industrial output in February rose 0.7 percent from a year ago.
Japan's economy, the world's second-biggest, has been steadily recovering in recent years from a decade-long slump that began in the early 1990s.
The government Monday revised upward its economic growth for the January-March quarter to an annual pace of 3.3 percent from a previously announced 2.4 percent.

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