Japan's Industrial Production Takes a Hit

In a surprising turn of events, Japan's seasonally adjusted industrial production index saw a monthly decrease of 2.3%, settling at 101.7 in November. This figure, although above expectations, marks a significant downturn from the previous year.

Shipments and Inventories Show Decline

The shipments index wasn't spared, falling by 2.7% month-on-month to 99.6, a 3.8% decrease from the same month in 2023. Similarly, the inventories index dropped to 101.4, down by 0.9% from the previous month and 2.1% from November 2023.

Inventory Ratio on the Rise

Contrasting the downward trend, the inventory ratio increased to 107.9, showing a 3.2% rise on a monthly basis and a 2.7% increase year-on-year, according to the Ministry of Economy, Trade and Industry (METI).