Japan: Industrial output records quickest growth since June 2022 in February
Industrial production increased 4.5% month-on-month in seasonally-adjusted terms in February (January: -5.3% mom). The print marked the best reading since June 2022. The rebound was largely due to a notable rebound in manufacturing production. In contrast, mining production fell.
On an annual basis, factory output dropped 0.6% in February, easing notably from January’s 3.1% fall. Meanwhile, annual average variation of industrial production was 0.3% in February, matching January’s print.