May IP fell at the fastest rate in 3 months

Reuters reports:

"We were expecting GDP to be flat in the second quarter, but now there is the possibility it could contract," said Shuji Tonouchi, senior fixed income strategist at Mitsubishi UFJ Morgan Stanley Securities. "Consumer spending and capital expenditure show things won't get much worse, but it will be harder to meet the Bank of Japan's forecasts for economic growth and inflation."