Financial News: Japan Industrial Output Improves 2.8% In July

Japan Industrial Output Improves 2.8% In July

08/29/2024 - 20:14:00 (RTTNews)

(RTTNews) - Industrial production in Japan was up a seasonally adjusted 2.8 percent on month in July, the Ministry of Economy, Trade and Industry said on Friday.

That was shy of expectations for an increase of 3.6 percent following the 4.2 percent contraction in June.

On a yearly basis, industrial production rose 2.7 percent.

Upon the release of the data, the METI adjusted its assessment of industrial production, saying that it fluctuates indecisively.

Shipments were up 2.4 percent on month and 1.7 percent on year, while inventories rose 0.4 percent on month and fell 2.5 percent on year. The inventory ratio sank 2.3 percent on month and 3.8 percent on year.

According to the METI's forecast of industrial production, output is expected to added 2.2 percent in August and fall 3.3 percent in September.

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