Japan: Industrial output deteriorates in May
Industrial output declined 1.6% in month-on-month seasonally-adjusted terms in May, which contrasted April’s 0.7% increase. The figure was partly due to a deterioration in manufacturing output, as it recorded the weakest reading since May 2022. Meanwhile, mining output gained steam.
On an annual basis, factory output grew 4.7% in May, rebounding notably from April’s 0.7% fall and marking the best result since September 2022. Moreover, the trend improved, with the annual average growth of industrial production coming in at 0.6% in May, up from April’s 0.1%.