Japan: Industrial output drops at sharpest pace since January in June
Industrial output slid 4.2% in month-on-month seasonally adjusted terms in June, which contrasted May’s 3.6% increase. June’s result marked the worst reading since January. June’s figure was partly driven by a deterioration in the output of motor vehicles, production machinery and general-purpose and business-orientated machinery.
On an annual basis, factory output nosedived 7.3% in June (May: +1.1% yoy), the worst result since September 2020. Moreover, the trend pointed down, with the annual average variation of industrial production coming in at minus 2.8% in June, down from May’s minus 2.2%.