Japan: Industrial activity drops at sharpest rate since March 2011 in April
May 29, 2020
Industrial output dropped 9.1% month-on-month on a seasonally-adjusted basis in April (March: -3.7% yoy), in part due to a large fall in motor vehicle output. April's reading marked the sharpest contraction since March 2011. On an annual basis, industrial production fell 14.4% in April, following the 5.2% decrease in March.
Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 4.8% in April, down from March's minus 3.7%.
Author: Edward Gardner, Economist