Financial News: Japan Industrial Production Stumbles 3.3% In August

Japan Industrial Production Stumbles 3.3% In August

09/29/2024 - 20:17:00 (RTTNews)

(RTTNews) - Industrial production in Japan was down a seasonally adjusted 3.3 percent on month in August, the Ministry of Economy, Trade and Industry said on Monday.

That missed expectations for a decline of 0.5 percent following the 3.1 percent increase in July.

On a yearly basis, output slumped 4.9 percent.

Shipments were down 4.0 percent on month and 6.4 percent on year, while inventories eased 0.6 percent on month and 2.0 percent on year.

Upon the release of the data, the METI maintained its assessment of industrial production, saying that is continues to fluctuate indecisively.

According to the METI's forecast of industrial production, output is expected to rise 2.0 percent in September and 6.1 percent in October.

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