Japan: Industrial production loses momentum in May
Latest reading: Industrial production rose 0.1% in seasonally adjusted month-on-month terms in May, following 0.5% growth in the previous month.
Relative to the prior month’s data, the reading for manufacturing softened in May (+0.1% on a month-on-month basis vs +0.4% in April). In contrast, the reading for mining improved in May (-1.2% vs -2.0% in April).
On a year-on-year basis, industrial production was down 2.1% in May, following a 2.0% rise in the previous month.