Japan: Industrial activity falls at sharpest rate since May 2020 in February
March 31, 2021
Industrial production declined 2.1% month-on-month in seasonally-adjusted terms in February (January: +4.3% mom). The outturn marked the worst reading since May 2020.
On an annual basis, factory output fell at a softer pace of 2.6% in February (January: -5.2% yoy). However, the trend improved, with the annual average variation of industrial production coming in at minus 10.1%, up from January's minus 10.3%.
Author: Stephen Vogado, Economist