Factory output in Japan dropped in September for the first time in four months, official data showed on Monday, as a decline among carmakers dampened an otherwise solid gain for the third quarter.
After three consecutive months of growth, September saw a decline of 1.6% in industrial production from August, falling more than expectations of a 1% drop in a Reuters poll.
According to the release, the loss was driven by cars, chemicals, and manufacturing machinery, with the dip in carmakers’ output dragging overall data down by 1.85 percentage points.
Yet, output increased by 5.9% in the third quarter, a promising sign for Japan’s ongoing recovery from the pandemic.
