TOKYO: Industrial production in Japan was up a seasonally adjusted 1.0% on month in September, the Ministry of Economy, Trade and Industry said in Thursday’s preliminary reading. That beat forecasts for a decline of 0.5% following the 1.2% contraction in August.
On a yearly basis, industrial production dipped 0.9% – also beating expectations for a decline of 2.6% following the 0.4% decline 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 chemicals, electronic parts and electrical machinery. According to the survey of production forecast in manufacturing, production is expected to rise 4.1% in October and ease 0.3% in November.
Industries that mainly contribute to the increase in October included business-oriented machinery, transport equipment and electrical machinery. Industries that mainly contributed to the decline in November included business-oriented machinery, chemicals and transport equipment.
Shipments in September were up 1.3% on month, rising for the first time in three months. They were also down 1.6% on year. Industries that mainly contributed to the increase included electronic parts, electrical machinery and iron and steel.
Inventories in September dipped 0.4% on month, reversing the previous month’s gains. They were also up 2.0% on year. The inventory ratio in September fell 2.9% on month, reversing the previous month’s gains. It also showed an increase of 3.8% on year.
