Financial News: Japan Industrial Production Falls More Than Estimated

Japan Industrial Production Falls More Than Estimated

08/15/2024 - 02:56:00 (RTTNews)

(RTTNews) - Japan's industrial production declined at the steepest pace in five months, more than initially estimated in June, final data from the Ministry of Economy, Trade, and Industry showed on Thursday.

Industrial production declined 4.2 percent on a monthly basis, reversing a 3.6 percent increase in May. In the flash report, the rate of fall was 3.6 percent.

Data showed that shipments fell 4.7 percent from the previous month, and inventories dropped 0.7 percent. On the other hand, the inventory ratio showed an increase of 1.7 percent.

Year-on-year, industrial production declined sharply by 7.9 percent in June versus a 1.1 percent recovery in May.

The capacity utilization dropped 0.2 percent in June after rising 0.1 percent in the prior month.

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