Japan: Industrial activity falls at softer pace in May
June 30, 2020
Industrial production dropped 8.4% month-on-month in seasonally-adjusted terms in May (April: -9.8% mom), according to a first estimate. This latest fall was in large part due to a decrease in motor vehicle production.
On an annual basis, factory output fell at a quicker rate of 25.9% in May (April: -15.0% yoy), the worst result since May 2009. Moreover, the trend pointed down, with the annual average variation of industrial production coming in at minus 6.8% in May, down from April's minus 4.9%.
Author: Edward Gardner, Economist