Japan's industrial production decreased by 0.1 percent month-on-month and 1.0 percent year-on-year in April 2024, according to preliminary data from the Ministry of Economy, Trade and Industry (METI). The decline was attributed to lower production in the transport equipment and automobile sectors.

The seasonally adjusted index of production at factories and mines stood at 101.6 against the 2020 base of 100, reversing a 4.4 percent rise in March. The index of industrial shipments gained 0.2 percent to 100.6, while inventories slipped 0.5 percent to 102.1.

METI expects output to grow 6.9 percent in May but fall 5.6 percent in June. Steel production is forecast to increase by 0.7 percent in May and 1.2 percent in June.