Financial News: Japan Industrial Production Rebounds More Than Estimated

Japan Industrial Production Rebounds More Than Estimated

11/15/2024 - 01:32:00 (RTTNews)

(RTTNews) - Industrial production in Japan increased more than initially estimated in September, the Ministry of Economy, Trade, and Industry said on Friday.

Industrial production rose a seasonally adjusted 1.6 percent month-on-month in September, reversing a 3.3 percent fall in August. In the flash report, the rate of rebound was 1.4 percent.

On a yearly basis, the decline in industrial production eased to 2.6 percent from -4.9 percent in August.

Shipments were up 2.4 percent on month and down 4.2 percent on year, while inventories rose 0.1 percent on month and fell 1.3 percent on year. The inventory ratio showed a monthly decline of 3.8 percent.

Separate data from METI showed that tertiary activity in Japan declined 0.2 percent monthly in September, slower than the 1.1 percent fall in August. Meanwhile, the yearly growth improved slightly to 0.6 percent from 0.5 percent.

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