The seasonally adjusted industrial production index in Japan observed a monthly decrease of 3.3% to land at 99.7 in August, below expectations. Compared to the same month in 2023, the figure went down by 4.9%, the Ministry of Economy, Trade and Industry (METI) said in its preliminary report published on Monday.

The shipments index decreased by 4% month-on-month to reach 97.6, lowering by 6.4% year-on-year. The inventories index came in at 102.4, decreasing by 0.6% compared to the previous month and reducing by 2% compared to August 2023.

The inventory ratio stood at 109.7, up by 5.2% on a monthly level and advancing by 5.8% on an annual one.