Financial News: Japan Industrial Output Falls 6.7%, Less Than Estimated

Japan Industrial Output Falls 6.7%, Less Than Estimated

03/19/2024 - 02:54:00 (RTTNews)

(RTTNews) - Japan's industrial production contracted notably in January, though less than initially estimated, final data from the Ministry of Economy, Trade, and Industry showed on Tuesday.

Industrial production fell 6.7 percent on a monthly basis, in contrast to the 1.2 percent rebound in December. In the initial estimate, the rate of decline was 7.5 percent.

Data showed that shipments plunged 7.5 percent from the previous month, and inventories slid by 1.7 percent. Meanwhile, the inventory ratio grew by 2.6 percent.

Year-on-year, industrial production fell 1.5 percent in January, following a 1.1 percent drop a month ago. That was in line with the flash data published on February 28.

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