Japan: Industrial activity dips in April
Latest reading: Industrial output declined 0.9% in month-on-month seasonally adjusted terms in April, which contrasted March’s 0.2% increase but which was a slightly less sharp decline than expected by the market. The subsectors making the largest negative contributions include production machinery, transport equipment excluding automobiles and fabricated metals.
On an annual basis, industrial output rose at a more moderate pace of 0.7% in April (March: +1.0% yoy). Meanwhile, the trend improved, with the annual average variation of industrial production coming in at an over one-year high of minus 1.2%, up from March’s minus 1.4% reading.