Japan's industrial production index landed at 96.9 in July, increasing by 0.8% month-on-month, according to a report by the country's Ministry of Economy, Trade, and Industry (METI), released on Wednesday.
The figure landed slightly below expectations, showing that the country's production fell by 2% when compared to the same month of 2021. The inventory ratio and the index of shipments expanded by 3.8% and 1.2%, respectively, from June to July, as the index of inventories added a mere 0.6%.
On a yearly basis, the shipments index shrank by 2.1%, as the inventories increased by 5.1% and the inventory ratio by 10.5%.
