Japan announced that its industrial production declined...

Japan announced that its industrial production declined in April for the first time in nearly a year, signaling a possible peaking of rapid economic growth. The government reported a seasonally adjusted 0.9% decline in output at factories, the first drop since a 1.7% fall in May, 1987. The Ministry of International Trade and Industry reported declines in August and November, 1987, but they were revised upward when all data was reviewed in March.