Economic Buzz: Japans Industrial Production Falls 2.6% In October

30 Nov 2022 , 11:24 AM

Industrial output in Japan fell a seasonally adjusted 2.6 percent on month in October, the Ministry of Economy, Trade and Industry reported. On a yearly basis, industrial production rose 3.7 percent – also shy of expectations for a gain of 5 percent and slowing from 9.6 percent in the previous month. Upon the release of the data, the METI announced its assessment of industrial production, saying that it is picking up slowly but still shows signs of weakness in places. Industries that contributed to the decline included production machinery, electronic parts and chemicals. These were offset by increases among motor vehicles, business-oriented machinery and electrical machinery. Shipments were down 1.1 percent on month and up 4.8 percent on year thanks to declines among production machinery, motor vehicles and electronic parts. Inventories fell 0.8 percent on month and rose 4.7 percent on year following declines among motor vehicles, electronic parts and iron and steel. Powered by Commodity Insights