Japan Industrial Production Mom

Industrial production in Japan increased by 1.6% month-over-month in August 2024, compared with flash data of a 1.4% rise and after a 3.3% decline in the previous month. This marked the fourth time of expansion so far this year, mainly contributed by higher output of motor vehicles (7.1% vs -10.7% in August), inorganic and organic chemicals (6.6% vs -8.1%), and electrical machinery, and information and communication electronics equipment (2.2% vs -6.2%). Yearly, industrial production shrank 2.6%, much slower than a 4.9% drop in August, pointing to the seventh time of decrease year to date.