Industrial production in Japan was down 3.4 percent on month in February, the Ministry of Economy, Trade and Industry said on Monday.

That missed forecasts for a decline of 1.9 percent following the 3.7 percent increase in January.

On a yearly basis, industrial production slipped 2.6 percent – also shy of expectations for a decline of 0.6 percent following the 2.8 percent decline in the previous month.

Upon the release of the data, the METI maintained its assessment of industrial production, saying that it shows signs of increase at a moderate pace.

The material has been provided by InstaForex Company –