日本5月工业产出月率初值 0.5%，预期3.50%，前值-1.10%。

Core Insights - Japan's industrial production for May showed a preliminary month-on-month increase of 0.5%, which is significantly lower than the expected growth of 3.5% and a recovery from the previous month's decline of 1.1% [1] Group 1 - The preliminary industrial output figure indicates a slower-than-expected recovery in Japan's manufacturing sector [1] - The actual performance of 0.5% contrasts sharply with market expectations, suggesting potential challenges in the industrial landscape [1] - The previous month's decline of 1.1% highlights volatility in production levels, raising concerns about the sustainability of growth [1]