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Japan: Industrial activity contracts at sharpest pace since November 2024 in July
Latest reading: Industrial output declined 1.2% month-on-month in seasonally adjusted terms in July (June: +2.1% mom). The result marked the worst reading since November 2024. Looking at the details of the release, output dropped sharply in motor vehicles, production machinery, and general-purpose as well as business-oriented machinery.
On an annual basis, industrial production dropped 0.4% in July, contrasting June’s 4.4% expansion. Accordingly, the trend pointed down, with the annual average variation of industrial production coming in at minus 0.6%, down from June’s minus 0.4% reading.
