Manufacturers in Japan cut production in February for a second month in a row as the United States, the country's biggest export market, verged on a recession.
Output fell 1.2 percent from January, when it slid a revised 2.2 percent, the Ministry of Economy, Trade and Industry said Monday. The median estimate of 32 economists surveyed was for a 2 percent drop.
The first back-to-back declines in production in nine months indicate companies are concerned that world demand will slow as the U.S. economy grinds to a halt. Economic and fiscal policy minister Hiroko Ota said last week the U.S. slowdown may start to take its toll on emerging markets, where Japan ships more than half its exports.