Industrial output fell 7.5% in January from the previous month, data from the Ministry of Economy, Trade and Industry (METI) showed. It was slightly worse than the median market forecast for a 7.3% drop, with output sliding in 14 of the 15 industries surveyed by METI.
The ministry also downgraded its assessment of industrial output for the first time since July last year, laying bare the challenges for the economy as it tries to recover from a recession at the end of last year. Analysts at Capital Economics say the data suggest GDP may have contracted again in the current quarter.
This story is from the March 01, 2024 edition of The Business Guardian.
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This story is from the March 01, 2024 edition of The Business Guardian.
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