Financial News: Japan Industrial Output Slips 0.1% In February

Japan Industrial Output Slips 0.1% In February

03/28/2024 - 21:22:00 (RTTNews)

(RTTNews) - Industrial production in Japan was down a seasonally adjusted 0.1 percent on month in February, the Ministry of Economy, Trade and Industry said on Friday.

That was well shy of expectations for an increase of 1.2 percent following the 6.7 percent contraction in January.

Upon the release of the data, the METI downgraded its assessment of industrial production, saying that it continues to fluctuate indecisively but has weakened.

On a yearly basis, production sank 3.4 percent.

Shipments were down 0.4 percent on month and 4.4 percent on year, while inventories rose 0.6 percent on month but fell 1.7 percent on year. The inventory ration sank 5.5 percent on month and added 2.0 percent on year.

According to the METI's forecast of industrial production, output is expected to rise 4.9 percent on month in March and 3.3 percent in April.

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