Japan: Industrial output bounces back in May
Industrial production grew 3.6% month on month in seasonally adjusted terms in May (April: -0.9% mom). The notable turnaround was primarily driven by rebounds in manufacturing and mining production.
On an annual basis, industrial output increased 1.1% in May, contrasting April’s 1.8% fall and marking the best result in a year. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 2.2%, down from April’s minus 2.0%.