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- Japan’s industrial production rises more than forecast in August
Japan’s industrial production rises more than forecast in August
The preliminary
estimates by the Ministry of Economy, Trade and Industry (METI) showed Wednesday
that the industrial production in Japan rose 1.7 percent m-o-m in August, while
economists had forecast an advance of 1.5 percent m-o-m after an 8.7 percent
m-o-m surge in July.
The main
contributors to the August increase were higher production in such industries
as motor vehicles, iron, steel and non-ferrous metals, and electronic parts and
devices. On the contrary, production machinery, electrical machinery, and
Information and communication electronics equipment, and pulp, paper and paper
products had a negative impact on the reading.
In y-o-y terms,
Japan’s industrial output fell 13.3 percent in August after
a 15.5 percent plunge in July.
The METI also
said that shipments rose 2.1 percent m-o-m, but declined 13.8 y-o-y in August, while
inventories decreased 1.4 percent m-o-m and 6.0 percent y-o-y.
According to the
survey of production forecast, industrial production is projected to increase 5.7percent
m-o-m in September and 2.9 percent m-o-m in October.
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