TOKYO (Reuters) -Japan's factory output posted the biggest monthly drop in two years in May as China's COVID-19 lockdowns and semiconductor and other parts shortages hit manufacturers, adding more pressure on an economy struggling to mount a strong recovery. Factory output slumped a seasonally adjusted 7.2% in May from the previous month, official data showed on Thursday, as production of items such as cars as well as electrical and general-purpose machinery dropped sharply. "The plunge in industrial output in May suggests that Japan's recovery is disappointing yet again," said Marcel Thieliant, senior Japan economist at Capital Economics.
Per the 2022 J.D. Power quality scorecard, General Motors (GM) grabs the top spot among the automakers with a total of nine awards.
TOKYO (Reuters) -Toyota Motor Corp's global production for the first five months of 2022 fell 9.7% short of its own target on average, raising questions about whether the Japanese automaker will be able to maintain its current target for the year. The world's largest automaker by sales said it produced 634,940 vehicles in May, 5.3% fewer than in the same month last year and short of its target of about 700,000. It was the third consecutive month that Toyota has missed its monthly goal.