Japan's Industrial Production Rebounds in March Despite Quarterly Decline

Japan's factory output rose 3.8% in March, signaling recovery after a weak first quarter marked by the weakest performance since the pandemic.

Japan's industrial production increased by 3.8% in March, surpassing expectations, after a decline in the first two months of the year due to an earthquake and auto industry issues.
Quarterly figures show a 5.4% drop in output, the worst since the second quarter of 2020, highlighting challenges in the economy.
Automakers like Toyota and Daihatsu resumed production in March, contributing to the recovery in vehicle production which jumped 9.6%.
Despite the March increase, the overall economic outlook remains cautious with potential contractions in GDP anticipated for the first quarter of 2024.
Economists are optimistic about further increases in production in April and May, supported by strong forecasts and a resilient labor market.