Japan Industrial Production Dips 0.1% In December

TOKYO (Alliance News) - Industrial output in Japan fell a seasonally adjusted 0.1% on month in ...

Alliance News 31 January, 2019 | 1:15AM
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TOKYO (Alliance News) - Industrial output in Japan fell a seasonally adjusted 0.1% on month in December, the Ministry of Economy, Trade and Industry said in Thursday's preliminary reading.

That exceeded expectations for a decline of 0.5% following the 1.0% drop in November.

On a yearly basis, industrial production fell 1.9% - again topping forecasts for a decline of 2.3% following the 1.5% gain in the previous month.

Upon the release of the data, the METI maintained its assessment of industrial production, saying that it is picking up slowly.

Industries that contributed to the decline in December included production machinery, chemicals and electronic parts. They were offset by support from business oriented machinery, motor vehicles and electrical machinery.

Shipments were up 0.3% on month and down 2.8% on year.

Industries that contributed to the increase in December included motor vehicles, business oriented machinery and transport equipment. They were offset by declines in production machinery, electronic parts and iron and steel.

Inventories were up 1.0% on month and 1.3% on year.

Industries that contributed to the increase in December included electrical machinery, iron and steel and chemicals. They were offset by declines in electronic parts, motor vehicles and petroleum and coal.

According to the survey of production forecast, output is expected to have fallen 0.1% in January and jumped 2.6% on year in February.

Industries that are expected to contribute to the decline in January include transport equipment, iron and steel and fabricated metals.

Industries that are expected to contribute to the increase in February include transport equipment, production machinery and electrical machinery.

Copyright RTT News/dpa-AFX

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