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Financial News: Japan Industrial Production Decline More Than Estimated

Japan Industrial Production Decline More Than Estimated

07/14/2020 - 03:24:00 (RTTNews)

(RTTNews) - Japan industrial production declined more than estimated in May, final data from the Ministry of Economy, Trade and Industry showed on Tuesday.

Industrial production fell a seasonally adjusted 8.9 percent month-on-month in May. According to initial estimate, production was down 8.4 percent.

On a monthly basis, shipments declined 8.9 percent in May, which was revised from 8.4 percent fall.

Inventories decreased 2.6 percent versus the initial estimate of 2.5 percent.

The inventory ratio grew 7.3 percent.

On an annual basis, industrial production declined 26.3 percent in May. In the initial estimate, output fell 25.9 percent.

Further, data showed that the capacity utilization fell 11.6 percent on month in May, and declined 33.4 percent from a year ago.

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