Industrial production in Japan was down a seasonally adjusted 1.0 percent on month in November, the Ministry of Economy, Trade and Industry said in Monday’s preliminary reading – falling for the first time in three months.
That missed forecasts for a decline of 0.5 percent following the 1.4 percent gain in October.
On a yearly basis, industrial production climbed 1.6 percent – in line with expectations following the 1.4 percent drop 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 decline included business oriented machinery, chemicals and fabricated metals.
According to the survey of production forecast in manufacturing, production is expected to rise 0.9 percent in December and 6.0 percent in January.
Industries that mainly contributed to the increase in December included communications equipment, business-oriented machinery and chemicals.
Industries that mainly contributed to the increase in January included business-oriented machinery, transport equipment and electronic parts and devices.
Shipments in November were down 2.5 percent on month, falling for the first time in three months. They were also up 0.6 percent on year.
Industries that mainly contributed to the increase included petroleum and coal, iron and steel, and chemicals.
Inventories in November added 0.4 percent on month, rising for the first time in three months. They were also down 0.5 percent on year.
The inventory ratio in November climbed 2.9 percent on month, rising for the first time in three months. It also fell 0.8 percent on year.
Also on Monday, the METI said that the total value of retail sales in Japan was down 1.0 percent on year in November. That missed forecasts for a decline of 0.1 percent following the 1.8 percent increase in October.
Sales from large retailers were down 1.5 percent on year, also missing forecasts for a fall of 0.2 percent and down from the 2.9 percent spike in the previous month.
On a seasonally adjusted monthly basis, retail sales slipped 2.5 percent – missing forecasts for a drop of 1.4 percent following the 1.2 percent gain in the three months prior.
The material has been provided by InstaForex Company – www.instaforex.com