Industrial production in Japan stumbled a seasonally adjusted 1.4 percent on month in December, the Ministry of Economy, Trade and Industry said on Friday – sliding for the second straight month.
That missed forecasts for a fall of 0.3 percent following the 0.9 percent decline in November.
On a yearly basis, industrial production slipped 1.6 percent – also missing expectations for a decline of 0.6 percent following the 1.7 percent gain in the previous month.
Industries that mainly contributed to the decline included general-purpose, production and business oriented machinery, electronic parts and devices, and transport equipment.
Upon the release of the data, the METI maintained its assessment of industrial production, saying that it has been fluctuating indecisively.
According to the Survey of Production Forecast in Manufacturing, production is expected to increase 7.6 percent in January and decrease 4.1 percent in February.
Industries that mainly contributed to the increase in January include general-purpose, production and business oriented machinery, transport equipment, and information and communication electronics equipment.
Industries that mainly contributed to the decline in February include transport equipment, general-purpose, production and business oriented machinery, and electronic parts and devices.
Shipments shed 1.7 percent from the previous month, falling for the second consecutive month. They were also down 2.4 percent on year.
Industries that mainly contributed to the decline included electronic parts and devices, general-purpose, production and business oriented machinery, and transport equipment.
Inventories increased 0.4 percent on month, rising for the second consecutive month. It was flat on year.
The Inventory Ratio added 0.4 percent on month, rising for the second straight month. It also showed an increase of 2.9 percent on year.
Also on Friday, the Ministry of Internal Affairs and Communications said:
. Consumer prices in Japan were up 0.2 percent on year in December, in line with forecasts and slowing from 0.3 percent in November.
Core inflation, which excludes the volatile prices of food, added just 0.1 percent on year – unchanged and matching forecasts.
On a monthly basis, overall inflation slipped 0.1 percent and core CPI fell 0.2 percent.
Consumer prices in the Tokyo region, considered a leading indicator for the nationwide trend, fell 0.3 percent on year in January. That defied forecasts for a flat reading, which would have been unchanged.
Core CPI dipped an annual 0.1 percent versus expectations for an increase of 0.1 percent, which also would have been unchanged.
On a monthly basis, overall inflation dropped 0.6 percent and core CPI skidded 0.8 percent.
. The average of household spending in Japan was down 4.4 percent on year in December, coming in at 318,254 yen.
That missed forecasts for a decline of 2.5 percent following the 2.9 percent drop in November.
The average of monthly income per household stood at 900,229 yen, down 2.9 percent on year.
The average of consumption expenditures per household was 340,474 yen, down 5.0 percent on year.
. The jobless rate in Japan came in at a seasonally adjusted 3.3 percent in December, in line with expectations and unchanged from the previous month.
The job-to-applicant ratio was 1.27 – touching a 25-year high. That beat expectations for 1.26 and was up from 1.25 in the previous month.
The number of employed persons in December was 63.85 million, an increase of 280,000 or 0.4 percent on year.
The number of unemployed persons in December was 2.04 million, a decrease of 60,000 or 2.9 percent on year.
The material has been provided by InstaForex Company – www.instaforex.com