TOKYO (MNI) – Japanese industrial production rose 1.3% in April
from the previous month, unrevised from the preliminary reading, backed
by demand from general machinery makers and refineries, data from the
Ministry of Economy, Trade and Industry released on Monday showed.
Output posted the second consecutive month-on-month increase after
+1.2% in March and the 13th gain in the last 14 months. Output has
gained every month since March 2009 except for a 0.6% fall in February
this year.
Industrial production in the second quarter of 2010 is expected to
rise 2.2% from the previous quarter, unchanged from the preliminary
estimate.
Production has continued to improve from the sharp plunge seen from
late 2008 through early 2009. It rose a record +4.6% m/m in May last
year.
Compared with the year before level, production jumped an unrevised
25.9% y/y in April, up for the fifth straight month following a 31.8%
rise in March.
The 6.4% rise in December 2009 was the first y/y gain in 15 months.
Production in the first quarter of 2010 rose 27.5% from a year
earlier, a reversal from the 4.3% drop in the fourth quarter of 2009 and
the 19.4% fall in the third quarter of 2009.
The latest data also showed that shipments rose 1.4% from the
previous month in April, revised down from the preliminary reading of
+1.6%.
Inventories rose 0.6% month on month, revised up from a preliminary
0.3% rise.
The inventory-to-shipments ratio rose 1.2%, revised up from +0.6%.
The capacity utilization index was flat in April from a month
earlier to a seasonally adjusted 90.6 (vs. 100 = 2005 average) after
rising 0.6% m/m in the previous month.
tokyo@marketnews.com
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