Japan's January factory output fell at its fastest pace since May 2020 with a 7.5% decline, mainly due to motor vehicle production.

Japan's January factory output fell at its fastest pace since May 2020, with a 7.5% decline reported amid production downturns in the motor vehicle sector. This comes as the country's economy slipped into recession towards the end of last year. The Ministry of Economy, Trade and Industry's report shows a significant decline in factory production, raising concerns about the broader economy.