Industrial Output Takes a Hit

In a concerning development for Japan's economy, the seasonally adjusted industrial production index fell by 2.2% to 101.8 in November. This decline, as reported by the Ministry of Economy, Trade and Industry (METI) on Monday, also marks a 2.7% decrease compared to the same month in 2023.

Shipments and Inventories Also Decline

The shipments index wasn't spared, dropping 2.5% month-on-month to 99.8 and experiencing a 3.6% fall year-on-year. Similarly, the inventories index decreased by 1% from the previous month and by 2.2% compared to November 2023, landing at 101.3.

Inventory Ratio on the Rise

Contrasting the downward trends, the inventory ratio saw an increase, climbing 3.2% on a monthly basis and 2.7% annually to reach 107.9. This mixed bag of economic indicators paints a complex picture of Japan's industrial health as the year draws to a close.