Japan: Industrial activity dips in July
Industrial output slid 1.8% in month-on-month seasonally-adjusted terms in July, which contrasted June’s 2.4% increase. July’s reading was partly due to a deterioration in manufacturing output. In addition, mining production fell.
On an annual basis, industrial output dropped 2.3% in July, which was notably below June’s flat reading and marking the worst result since January. Meanwhile, annual average growth of industrial production was 0.8% in July, matching June’s result.