Japan industrial output drops again
Industrial production in Japan declined for the second consecutive month in August, decreasing by 1.7% compared to July, despite expectations of a 1.3% increase. Ongoing conflicts in the Middle East, rising oil prices, and supply chain disruptions are putting pressure on the industry, particularly in the automotive, machinery, and oil sectors. Meanwhile, the production of transport equipment excluding automobiles has increased. Despite the decline in industrial output, retail sales in August rose by 2.7% year-on-year. It is expected that production will remain strong and grow by around 3% in the coming months, with the manufacturing sector continuing to expand according to the PMI index.
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