Japan: Industrial production rebounds in September
Latest reading: Industrial production increased 2.2% on a seasonally adjusted month-on-month basis in September, following a 1.5% drop in the prior month. The print beat market expectations and was the strongest since February.
Relative to the prior month’s data, the reading for manufacturing improved in September (+1.9% in month-on-month terms vs -1.2% in August), led by a rebound in output of production machinery, inorganic and organic materials and fabricated metals.
In contrast, the reading for mining worsened in September (-1.9% vs +1.5% in August).
In annual terms, industrial production increased 3.4% in September, following a 1.6% drop in the prior month.