Financial News: Japan Industrial Output Shrinks 0.6%, More Than Estimated

Japan Industrial Output Shrinks 0.6%, More Than Estimated

04/12/2024 - 02:29:00 (RTTNews)

(RTTNews) - Japan's industrial production contracted more than initially estimated in February, final data from the Ministry of Economy, Trade, and Industry showed on Friday.

Industrial production fell 0.6 percent on a monthly basis, though much slower than the 6.7 percent decline in January. In the initial estimate, the rate of decline was 0.1 percent.

Data showed that shipments dropped 0.7 percent from the previous month, and the inventory ratio slid by 5.6 percent. Meanwhile, inventories grew by 0.6 percent.

Year-on-year, the decline in industrial production deepened to 3.9 percent in February from 1.5 percent a month ago. In the flash report, the rate of fall was 3.4 percent.

The capacity utilisation decreased 0.1 percent in February after remaining flat in the prior month. On a yearly basis, capacity utilization increased at a steady pace of 0.1 percent.

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