— Japan Jan Industrial Output Revised to +1.3% M/M From +2.4%
— Japan Industrial Output Posts 3rd M/M Rise in Row
TOKYO (MNI) – Japanese industrial production rose a revised 1.3% in
January from December, marking the third straight month of gains, data
from the Ministry of Economy, Trade and Industry showed on Monday.
The rise was led by higher output of passenger cars and general
machinery as seen in preliminary data released last month.
Last month METI reported its survey of firms’ forecasts showed that
production will rise 0.1% m/m in February — revised up from the 1.2%
decline estimated in the previous month’s survey — and it will rise
further by 1.9% in March (first estimate).
METI slightly upgraded its assessment when it released preliminary
data last month, saying that industrial production is “continuing to
show an upward movement.”
In the December report, the ministry said that the nation’s output
“is showing signs of an upward movement.”
Output of transportation machinery including automobiles, which
carry a heavy weighting in the index, rose a revised 7.0% m/m in
December (preliminary +7.5%).
Compared with the year earlier level, production in January showed
a revised +3.5% y/y (preliminary +4.7%), slowing from +4.9% in December.
Other details from the latest data:
Shipments: January revised +0.6% m/m (Preliminary +1.1%) vs.
December +1.2% m/m, posting the third straight monthly rise.
Inventories: January revised +4.0% (preliminary +4.7%) vs December
+1.6%, marking the second straight m/m rise.
The inventory-to-shipments ratio: January revised -0.2%
(preliminary +0.7%) vs. December +0.4%.
tokyo@marketnews.com
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