Industrial production in Japan decreased by 13.3pc in August compared to the same month last year, Japan’s Ministry of Economy, Trade and Industry (METI) noted.

 

However, the country’s industrial production nevertheless increased by 1.7pc over July, led by higher output from the motor vehicle, steel, and non-ferrous metal sectors.

 

Japan’s shipments also declined by 13.8pc in August from a year earlier, but grew by 2.1pc from one month prior, METI reported, once again led by gains in the motor vehicle, iron, steel, non-ferrous metal, and transport equipment sectors.

 

However, the country’s inventory levels were down by 6pc compared to August 2019, and declined by 1.4pc from July 2020, according to METI, which attributed the decrease to lower output in the country’s iron, steel, and non-ferrous metal sectors, despite higher motor vehicle production.

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