— Japan Industrial Output Posts 2nd M/M Rise
TOKYO (MNI) – Japanese industrial production posted a revised 3.3%
rise in December from November, marking the second straight month of
gains, data from the Ministry of Economy, Trade and Industry showed on
Tuesday.
The rise was led by higher output of passenger cars as well as
electronic parts and devices, as seen in preliminary data released last
month.
Last month METI reported its survey of firms’ forecasts showed that
production will rise 5.7% m/m in January — revised up from the 3.7%
rise estimated in the previous month’s survey — but it will fall 1.2%
in February (first estimate).
METI upgraded its assessment last month, saying that industrial
production “is showing signs of an upward movement.”
In November, it asserted that “industrial production has weakened.”
Output of transportation machinery including automobiles, which
carry a heavy weighting in the index, rose a revised 5.3% m/m in
December (preliminary +5.1%).
Compared with the year earlier level, production in December 2010
showed an revised +4.9% y/y (preliminary +4.6%), slowing from +5.8% in
November.
Other details from the latest data:
Shipments: Dec revised +1.2% m/m (preliminary +1.1%) vs. Nov +2.6%
m/m, posting the second straight monthly rise. The rise was led by gains
in electronics parts and devices as well as transportation equipment.
Inventories: December revised +1.6% (preliminary +1.4%) vs. Nov
-1.8%, marking the first m/m rise in three months. The rise in
inventories was led by gains in information and communication equipment
as well as electronics parts and devices.
The inventory-to-shipments ratio: December revised +0.4% m/m
(preliminary unchanged) vs. November -8.3%.
tokyo@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4835 **
[TOPICS: M$J$$$,M$A$$$,MAJDS$,MT$$$$]
