Industrial production in Japan was up a seasonally adjusted 1.0 percent 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 percent following the 1.2 percent contraction in August.
On a yearly basis, industrial production dipped 0.9 percent – also beating expectations for a decline of 2.6 percent following the 0.4 percent 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 percent in October and ease 0.3 percent 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 percent on month, rising for the first time in three months. They were also down 1.6 percent on year.
Industries that mainly contributed to the increase included electronic parts, electrical machinery and iron and steel.
Inventories in September dipped 0.4 percent on month, reversing the previous month’s gains. They were also up 2.0 percent on year.
The inventory ratio in September fell 2.9 percent on month, reversing the previous month’s gains. It also showed an increase of 3.8 percent on year.
The material has been provided by InstaForex Company – www.instaforex.com