Japan’s industrial production fell 4.6% compared to a month ago in January, the largest monthly decline the sector had recorded in eight months, data showed on Tuesday, as the industry was hit by declining overseas demand.
According to Japan’s Ministry of Economy, Trade, and Industry, factory output dropped 4.6% in January compared to the previous month.
The reading declined more than expected by 2.9%, following a 0.3% increase the previous month.
Overall, the reduction was driven by the automobile industry, semiconductor manufacturing equipment, and other technology-related parts and gadgets. Shipments declined moderately, causing inventories to fall for the second month in a row.
Automobile manufacturing declined by 10.1%, while output of production machinery and electronic components fell by 13.5% and 4.2% respectively. Semiconductor-making equipment dropped by 26.8%.
