Japan Industrial Production Mom

Industrial production growth in Japan was revised upward to 3.6% month-over-month in May 2024 from flash data of a 2.8% increase. The latest result was also a reversal from a 0.9% fall in the prior month, pointing to the second time of expansion in industrial output so far this year, mainly contributed by strong rebounds in the output of motor vehicles (18.1% vs -0.6% in April), electrical machinery, and information and communication electronics equipment (5.3% vs -2.4%), and general-purpose and business oriented machinery (5.2% vs -3.0%). Yearly, industrial output rose by 1.1% in May, indicating the first expansion in seven months and swinging from a 1.8% decline in April.