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Financial News: Japan Industrial Output Gains 0.6% In April

Japan Industrial Output Gains 0.6% In April

05/30/2019 - 20:50:00 (RTTNews)

(RTTNews) - Industrial output in Japan rose a seasonally adjusted 0.6 percent on month in April, the Ministry of Economy, Trade and Industry said in Friday's preliminary reading.

That exceeded expectations for an increase of 0.2 percent following the 0.6 percent decline in March.

On a yearly basis, industrial production sank 1.1 percent - also topping forecasts for a decline of 1.5 percent following the 4.3 percent drop in the previous month.

Upon the release of the data, the METI's assessment of industrial production was that it continues to fluctuate indecisively.

In April, the production of motor vehicles, production machinery and transport equipment increase - while the production of business-oriented machinery, electronic part and chemicals was down.

Shipments were up 1.7 percent on month and down 1.5 percent on year, while inventories were flat on month and climbed 1.2 percent on year. The inventory ratio was down 2.5 percent on month and up 1.9 percent on year.

According to the METI's production forecast, output is expected to climb 5.6 percent in May and sink 4.2 percent in June.

Also on Friday: . The total value of retail sales in Japan was roughly flat on month on a seasonally adjusted basis in April, the Ministry of Economy, Trade and Industry said. That missed expectations for an increase of 0.6 percent and was down from the 0.2 percent gain in March.

On a yearly basis, retail sales gained 0.5 percent - also shy of forecasts for a gain of 0.9 percent and down from 1.0 percent in the previous month.

Large retailer sales sank 1.8 percent on year in April, the ministry said - missing expectations for a decline of 0.9 percent following the 0.6 percent increase a month earlier.

. The unemployment rate in Japan came in at a seasonally adjusted 2.4 percent in April, the Ministry of Internal Affairs and Communications said. That was in line with expectations and down from 2.5 percent in March.

The job-to-applicant ratio was 1.63 - matching forecasts and unchanged from the previous month.

The number of employed persons in April was 67.08 million, an increase of 370,000 or 0.6 percent on year. The number of unemployed persons in April was 1.76 million, a decrease of 40,000 or 2.2 percent on year.

. Overall consumer prices in the Tokyo region were up 1.1 percent on year in May, the Ministry of Internal Affairs and Communications said. That was shy of expectations for an increase of 1.2 percent and down from 1.4 percent in April.

Core consumer prices, which exclude food costs, also rose an annual 1.1 percent - again below forecasts for 1.2 percent and down from 1.3 percent in the previous month.

On a monthly basis, overall inflation and core CPI both were down 0.2 percent.

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