Japan: Industrial activity drops less sharply in February
Industrial output fell 0.6% month-on-month in seasonally adjusted terms in February (January: -6.7% mom s.a.). Looking at the details of the release, manufacturing production fell less sharply in February, and mining output rebounded.
On an annual basis, industrial output dropped 3.4% in February, which was sharper than January’s 1.5% fall. Meanwhile, the trend worsened, with the annual average variation of industrial production coming in at minus 1.4%, down from January’s minus 1.2% reading.