Japan’s industrial production dropped less than initially estimated in May, latest figures from the Ministry of Economy, Trade and Industry showed Monday.
Industrial production declined a seasonally adjusted 2.1 percent month-over-month in May, revised down from a 2.2 percent drop in the flash data. In April, production had risen 1.2 percent.
Shipments in May decreased 1.9 percent from the previous month, came in line with preliminary report.
Inventories fell 0.8 percent in May, confirming the flash data. At the same time, inventory ratio climbed 1.9 percent, as estimated earlier, following a 1.0 percent decline in the preceding month.
On an annual basis, industrial production slipped 3.9 percent in May, reversing a 0.1 percent mere increase in April.
The capacity utilization rate slid a seasonally adjusted 3.0 percent in May, faster than prior month’s 0.4 percent drop. It was the fourth consecutive monthly fall. On an unadjusted basis, it dipped 6.8 percent from the previous year.
The tertiary activity index dropped a seasonally adjusted 0.7 percent monthly in May, following a 0.1 percent decrease in April, the ministry said in a separate report. Without adjsustment, the index increased at a slower pace of 0.2 percent annually in May, after a 2.2 percent growth seen in the prior month.
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