Japan: Industrial activity drops at sharpest rate since May in October
Industrial output fell 2.6% in month-on-month seasonally-adjusted terms in October, which followed September’s 1.7% decrease. October’s figure marked the worst reading since May. October’s sharper drop was partly driven by a bigger drop in manufacturing output. In contrast, mining production rebounded.
On an annual basis, factory output rose at a more moderate pace of 3.7% in October (September: +9.6% yoy). Meanwhile, annual average industrial production growth rose to 0.9% in October (September: +0.2%). This signals an improving trend in the industrial sector.