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Financial News: Japan Industrial Production Climbs 2.5% On Month In

Japan Industrial Production Climbs 2.5% On Month In April

05/30/2021 - 20:48:00 (RTTNews)

(RTTNews) - Industrial output in Japan was up 2.5 percent on month in April, the Ministry of Economy, Trade and Industry said on Monday.

That missed expectations for an increase of 4.1 percent following the downwardly revised 1.7 percent gain in March (originally 2.2 percent).

On a yearly basis, industrial production jumped 15.4 percent, beating forecasts for 13.0 percent following the 3.4 percent increase in the previous month.

Upon the release of the data, the METI maintained its assessment of industrial production, saying that it is picking up.

Industries that contributed to the increase included business-oriented machinery, electrical machinery and production machinery. Industries that contributed to the decrease included motor vehicles, transport equipment and plastic products.

Shipments were up 2.6 percent on month and 15.7 percent on year, thanks to support from electrical machinery, production machinery and business-oriented machinery. Inventories were down 0.1 percent on month and 9.8 percent on year thanks to declines among chemicals, electrical machinery and other manufacturing.

According to the METI's forecast of industrial production, output is expected to slip 1.7 percent in May and climb 5.0 percent in June.

Contributing to the decline in May are transport equipment, others and paper products. Contributing to the rebound in June are transport equipment, others and fabricated metals.

Also on Monday, the METI said that the total value of retail sales in Japan was down a seasonally adjusted 4.5 percent on month in April, coming in at 12.200 trillion yen.

That missed expectations for a gain of 2.0 percent following the 1.2 percent increase in March.

On a yearly basis, retail sales climbed 12.0 percent - again missing expectations for 15.3 percent after rising 5.2 percent in the previous month.

Wholesale sales were down 0.9 percent on month and up 11.7 percent on year at 33.289 trillion yen, while commercial sales sank 2.1 percent on month and gained 11.8 percent on year at 45.489 trillion yen.

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