Japan's industrial output declined by 3.3% in August 2024 compared to July, marking the fifth decrease this year. Year-on-year, production fell by 4.9%, according to the Ministry of Economy, Trade and Industry (METI). The drop was primarily driven by a 10.6% reduction in motor vehicle output and declines in electrical machinery and production machinery. Looking ahead, METI forecasts a 2.0% increase in September and a 6.1% rise in October for industrial production, while iron and steel production is expected to decrease slightly in September before rebounding in October135.