The Ministry of Economy, Trade and Industry on Friday downgraded its assessment of industrial production activities for the fourth consecutive month, saying they are on a "falling trend."
Attributing the deteriorated view to a seasonally adjusted 2.1 percent drop in production in March and negative outlooks for both April and May, a ministry official called the fourth straight downward revision "very rare."
Production has fallen rapidly since a sizable 4.4 percent decline in January, due mainly to slowing exports to the United States of chip-making machines, the sector that led the nation's recent moderate recovery, the official said.
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