Japan Industrial Production Mom

Industrial production in Japan declined by 0.6% month-over-month in February 2024, compared with flash data of a 0.1% drop. The latest result followed a 6.7% plunge a month earlier which was the steepest decrease since May 2020. Output of motor vehicles remained weak (-8.1% vs -15.9% in January), as did production machinery (-3.2% vs -6.1%), and transport equipment, excluding motor vehicles (-6.9% vs -1.6%). Yearly, industrial output fell by 3.9% in February, the fourth straight month of contraction and the steepest pace in the sequence.