Japan Industrial Production Mom

Industrial production in Japan dropped by 5.3 percent month-over-month in January 2023, compared with a flash figure of a 4.6 percent fall and following a final 0.3 percent gain in the previous month. This was the first decline in industrial output since last October and the steepest pace in eight months. Industries that mainly contributed to the decline were production machinery (-15.3% vs 0.8% in December), motor vehicles (-10.1% vs 0.5%), and electronic parts & devices (-4.2% vs -0.7%). On an annual basis, industrial production fell 3.1% in January, the third straight month of decrease, after a revised 2.4 percent fall in December.