Japan’s industrial production declines after sluggish auto production

According to Japan’s Ministry of Economy, Trade and Industry (METI), Japan’s industrial production fell in September for the first time in four months due to sluggish automobile production. However, production will grow strongly in Q3 2022.

According to the data, industrial production fell by 1.6% in August after rising for three consecutive months. The main pressure came from a decline in auto production.

On a quarterly basis, it was found that Japanese output continued to grow by 5.9% in 3Q22, a good sign that the Japanese economy has continued to recover from the COVID-19 pandemic.

The METI report shows that retail sales in Japan rose by 1.1% in September compared with August.

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