Japan: Industrial output growth ebbs in July
Industrial output grew 0.8% in month-on-month seasonally-adjusted terms in July, which was a deterioration from June’s 9.2% increase. July’s notable slowdown was largely driven by a deterioration in manufacturing output growth. In addition, mining production fell markedly.
On an annual basis, industrial output fell at a softer pace of 2.0% in July (June: -2.8% yoy). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 0.6% in July, contrasting June’s plus 0.4%.