Japan Industrial Output Falls 3.6% In June
(RTTNews) - Industrial output in Japan dropped a seasonally adjusted 3.6 percent on month in June, the Ministry of Economy, Trade and Industry said on Wednesday.
That exceeded expectations for a decline of 4.2 percent following the 3.6 percent increase in May.
On a yearly basis, industrial output slumped 7.3 percent after rising 1.1 percent in the previous month.
Upon the release of the data, the METI downgraded its assessment of industrial production, saying that it fluctuates indecisively but has weakened.
Industries that contributed to the decline includes motor vehicles, production machinery and business-oriented machinery.
Shipments were down 4.3 percent on month and 7.7 percent on year, while inventories fell 0.6 percent on month and 2.6 percent on year. The inventory ratio was up 2.1 percent on month and 5.2 percent on year.
The decline in shipments was led by production machinery, electrical machinery and communications electronics equipment.
The decline in inventories was led by motor vehicles, business-oriented machinery and production machinery.
According to the METI's production forecast, industrial output is seen higher by 6.5 percent in July and 0.7 percent in August.
Industries continuing to the gain in July include production machinery, electronic parts and chemicals.
Industries continuing to the gain in August include electrical machinery, electronic parts and petroleum products.
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