Japan Industrial Production Climbs 1.4% In October

Industrial output in Japan gained a seasonally adjusted 1.4 percent on month in October, the Ministry of Economy, Trade and Industry said in Monday’s preliminary reading – rising for the second straight month.

That missed forecasts for an increase of 1.8 percent, although it was up from 1.1 percent in September.

On a yearly basis, industrial production slipped 1.4 percent – also missing expectations for a decline of 0.9 percent following the 0.8 percent drop in the previous month.

Upon the release of the data, the METI maintained its assessment of industrial production, saying that it has been fluctuating indecisively.

Industries that mainly contributed to the monthly increase included business oriented machinery, transport equipment and electronic parts and devices.

According to the survey of production forecast in manufacturing, production is expected to rise 0.2 percent in November and fall 0.9 percent in December.

Industries that mainly contributed to the increase in November included communication electronics equipment, electrical machinery, and electronic parts and devices.

Industries that mainly contributed to the decline in December included business-oriented machinery, transport equipment and electronic parts and devices.

Shipments in October were up 2.1 percent on month, rising for the second straight month. They were also down 0.8 percent on year.

Industries that mainly contributed to the increase included transport equipment, business oriented machinery and electronic parts and devices.

Inventories in October dipped 1.9 percent on month, falling for the second straight month. They were also up 0.2 percent on year.

The inventory ratio in October fell 3.0 percent on month, falling for the second consecutive month. It also fell 0.5 percent on year.

Also on Monday, the METI said that the total value of retail sales in Japan was up 1.8 percent on year in October – topping forecasts for an increase of 0.9 percent following the 0.1 percent decline in September.

Sales from large retailers were up 2.9 percent on year, just missing forecasts for an increase of 3.0 percent but still up from 1.7 percent in the previous month.

On a seasonally adjusted monthly basis, retail sales advanced 1.1 percent – beating forecasts for a gain of 0.3 percent and up from 0.8 percent in the three months prior.

Published: 2015-11-29 23:25:00 UTC+00

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