Huge north Asian economies just posted some grim industrial numbers

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Japanese industrial output slipped in July with the government reporting a decline of 0.6%.

The figure was below the 1.1% increase registered in June and expectations for a further expansion of 0.1%.

Looking further ahead, production is expected to rebound by 2.8% in August, up from the 2.7% increase seen previously, before easing by 1.7% in September.

The disappointing reading followed a similarly downbeat performance from South Korea’s industrial sector earlier in the session.

In July output slid by 3.3% compared to a year earlier, well below expectations for a drop of 1.0%.

The reading marked the largest contraction recorded since February 2015.

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