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Financial News: Japan Industrial Output Gains 1.4% On Month In

Japan Industrial Output Gains 1.4% On Month In February

03/28/2019 - 21:30:00 (RTTNews)

(RTTNews) - Industrial production in Japan perked 1.4 percent on month in February, the Ministry of Economy, Trade and Industry said on Friday - in line with expectations following the 3.4 percent slide in January.

On a yearly basis, industrial production sank 1.0 percent - but that beat forecasts for a fall of 1.1 percent following the 0.3 percent gain in the previous month.

Upon the release of the data, the METI updated its assessment of industrial production, saying industrial production is pausing.

Shipments were up 1.8 percent on month and down 0.3 percent on year, while inventories gained 0.5 percent on month and 1.4 percent on year. The inventory ratio eased 0.2 percent on month and gaine2.0 percent on year.

The survey of production forecast suggests that industrial production will rise 1.3 percent in March and 1.1 percent in April.

Also on Friday: . Retail sales in Japan were up a seasonally adjusted 0.2 percent on month in February, the Ministry of Economy, Trade and Industry said. That missed expectations for an increase of 1.0 percent following the 1.8 percent decline in January.

On a yearly basis, retail sales advanced 0.4 percent - again missing expectations for 1.0 percent and down from 0.6 percent in the previous month.

Sales from large retailers tumbled an annual 1.8 percent, missing forecasts for a fall of 1.3 percent following the 3.3 percent slide a month earlier.

. The unemployment rate in Japan came in at a seasonally adjusted 2.3 percent in February, the Ministry of Internal Affairs and Communications said. That was beneath expectations for 2.5 percent, which would have been unchanged from the previous month.

The job-to-applicant ratio was 1.63 - unchanged and as expected, while the participation rate came in at 61.4 percent.

The number of employed persons in February was 66.56 million, an increase of 780,000 or 1.2 percent on year. The number of unemployed persons in February was 1.56 million, a decrease of 100,000 or an annual 6.0 percent.

. Overall inflation in the Tokyo region was up 0.9 percent on year in March, the Ministry of Internal Affairs and Communications said - in line with expectations and unchanged from the previous month.

Core CPI, which excludes volatile food prices, rose an annual 1.1 percent - again matching forecasts and steady from the February reading.

Individually, prices for housing, fuel, furniture, clothing, education and recreation were up - while prices for food and transportation were down.

On a monthly basis, overall inflation was flat and core CPI eased 0.1 percent.

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