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Japan: Auto sector hampers overall industrial production in June
Industrial production (IP) dropped -3.6% MoM sa in June (vs 3.6% in May, -4.5% market consensus), offsetting the gain in the previous month. In the first half of this year, industrial production data showed large month-on-month fluctuations due to the auto safety scandal. Some automotive production lines have been shut down since June and this is expected to continue in August. The disruption will hamper the recovery in manufacturing production for the time being. In June, car output dropped -4.8%, after rising for the previous three months. While the drop in auto production is the most visible, the bigger concern is ... (full story)
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- Posted: Jul 31, 2024 12:35am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,189
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