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Financial News: Japan Industrial Output Jumps 8.9% On Month In

Japan Industrial Output Jumps 8.9% On Month In June

07/28/2022 - 20:07:00 (RTTNews)

(RTTNews) - Industrial production in Japan was up a seasonally adjusted 8.9 percent on month in June, the Ministry of Economy, Trade and Industry said on Friday.

That beat forecasts for an increase of 3.7 percent following the 7.5 percent contraction in May.

On a yearly basis, industrial output fell 3.1 percent - unchanged from the May reading but missing forecasts for a decline of 2.0 percent.

Upon the release of the data, the METI changed its assessment of industrial production to: fluctuating indecisively.

Shipments were up 4.6 percent on month and down 3.3 percent on year, while inventories rose 2.1 percent on month and 4.4 percent on year. The inventory ration fell 1.0 percent on month and jumped 8.3 percent on year.

According to the METI's forecast of industrial production, output is expected to rise 3.8 percent in July and 6.0 percent in August.

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