Japan factory output tumbles in further gloom

Output at factories and mines in January was down 7.5% from the previous month. — Bloomberg

Tokyo: Japan’s industrial output last month slumped the most since the Covid-19 pandemic, government data shows, adding to the gloom for the world’s number-four economy after going into recession in late 2023.

Output at factories and mines in January was down 7.5% from the previous month – the largest month-on-month decline since May 2020, when Covid brought global economies to a standstill.