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Financial News: Japan Industrial Output Climbs 1.3% On Month In

Japan Industrial Output Climbs 1.3% On Month In December

01/30/2020 - 19:39:00 (RTTNews)

(RTTNews) - Industrial output in Japan advanced a seasonally adjusted 1.3 percent on month in December, the Ministry of Economy, Trade and Industry said in Friday's preliminary reading.

That beat expectations for a gain of 0.7 percent following the 1.0 percent decline in November.

On a yearly basis, industrial production was down 3.0 percent - but that also beat expectations for a decline of 3.6 percent following the 8.2 percent slide in the previous month.

Upon the release of the data, the METI maintained its assessment of industrial production, saying that it has weakened.

Shipments were flat on month and down 3.7 percent on year, while inventories added 1.6 percent on month and 2.1 percent on year.

According to the METI's forecast, industrial production is see higher by 3.5 percent on month in January and by 4.1 percent on month in February.

Also on Friday: . The unemployment rate in Japan came in at a seasonally adjusted 2.2 percent in December, the Ministry of Internal Affairs and Communications said. That was unchanged from the November reading, although it was shy of expectations for 2.3 percent.

The job-to-applicant ratio was 1.57 - unchanged and in line with expectations. The number of employed persons in December was 67.37 million, an increase of 810,000 from the previous year. The number of unemployed persons in December was 1.45 million, a decrease of 140,000 from the previous year.

. Overall consumer prices in the Tokyo region of Japan were up 0.6 percent on year in January, the Ministry of Internal Affairs and Communications said. That was shy of expectations for 0.7 percent and down from 0.9 percent in December.

Core CPI, which excludes fresh food prices, rose an annual 0.7 percent - again short of estimates for 0.8 percent, which would have been unchanged.

On a monthly basis, overall Tokyo inflation was down 0.1 percent and core CPI added 0.1 percent.

. Retail sales in Japan were up a seasonally adjusted 0.2 percent on month in December, the Ministry of Economy, Trade and Industry said. That was shy of expectations for a gain of 1.2 percent following the 4.5 percent jump in November.

On a yearly basis, sales were down 2.6 percent - also missing forecasts for a drop of 1.8 percent following the 2.1 percent drop in the previous month.

Large retailer sales sank 3.0 percent on year, shy of expectations for a drop of 2.5 percent after losing 1.8 percent a month earlier.

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