Japan's factory output sees sharpest decline in nearly 4 years

The significant drop in industrial production, led by the automotive sector, raises concerns about the country's economic recovery.

Japan's factory output fell 7.5% in January, marking the fastest pace of decline since May 2020.
The downturn was most pronounced in the motor vehicle sector, with a 17.8% drop in production.
Toyota Motor suspended shipments of some models due to irregularities in diesel engine certification tests.
Manufacturers anticipate a modest recovery with a projected increase in output of 4.8% in February and 2.0% in March.
Japanese retail sales rose 2.3% in January, continuing a 23-month streak of increases.