Industrial production in Japan climbed a seasonally adjusted 3.7 percent on month in January, the Ministry of Economy, Trade and Industry said in Monday’s preliminary reading – rising for the first time in three months.
The headline figure beat forecasts for an increase of 3.2 percent following the 1.7 percent decline in December.
On a yearly basis, industrial production slipped 3.8 percent – matching forecasts following the 1.9 percent contraction 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 increase included general-purpose, production and business oriented machinery, electronic parts and devices, and transport equipment.
According to the Survey of Production Forecast in Manufacturing, production is expected to decrease 5.2 percent in February and gain 3.1 percent in March.
Industries that mainly contributed to the decline in February include transport equipment, general-purpose, production and business oriented machinery, and electronic parts and devices.
Industries that mainly contributed to the increase in March include general-purpose, production and business oriented machinery, transport equipment, and information and chemicals.
Shipments added 3.4 percent on month, rising for the first time in three months. They were also down 5.9 percent on year.
Industries that mainly contributed to the decline included electronic parts and devices, general-purpose, production and business oriented machinery, and electrical machinery.
Inventories dipped 0.3 percent on month, falling for the first time in three months. Inventories added 0.2 percent on year.
The Inventory Ratio fell 2.1 percent on month, falling for the first time in three months. It also showed an increase of 4.2 percent on year.
Also on Monday, the METI said that retail sales in Japan were down a seasonally adjusted 1.1 percent on month in January. That missed forecasts for an increase of 0.1 percent following the 0.3 percent decline in December.
On a yearly basis, retail sales dipped 0.1 percent – also missing expectations for a gain of 0.1 percent following the 1.1 percent contraction in the previous month.
Sales from large retailers climbed 1.0 percent on year, beating forecasts for a decline of 0.2 percent following the flat reading a month earlier.
The material has been provided by InstaForex Company – www.instaforex.com