6/30, 1:53 AM (Source: TeleTrader)
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Japan's industrial production drops by 7.2% in May

Japan's industrial production index landed at 88.3 in May, decreasing by 7.2% month-on-month, according to a preliminary report by the country's Ministry of Economy, Trade, and Industry (METI), released on Thursday.

The figure went under investors' expectations, showing that the country's production fell by 2.8% when compared to the same month of 2021.

The inventory ratio expanded by 9.6% year-on-year, as the shipments index fell by 3.2% and the index of inventories improved by 4.6%. On a monthly basis, the index of shipments and inventories decreased by 4.3% and 0.1%, respectively, as the inventory ratio expanded by 4.7%.

Baha Breaking News (BBN) / NL