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Japan Feb Ind. Output -0.1% M/M; Shipments -0.4% M/M

JAPAN DATA
MNI (Singapore)
  • Japan's industrial production dropped 7.5% in February compared with last month, marking the second monthly fall. The fall was led by the automobile industry.
  • Shipments decreased by 0.4% m/m, marking the second drop in three months. The automobile industry had the largest contribution to the decline.
  • Inventory increased for the first time in seven months by 0.6% m/m, led by steel and nonferrous metal industry industry.
  • METI maintains its assessment of production as "`weak, with some fluctuations", considering the big fall in the first two months and increase production plans in March and April.
  • METI sees production will rise 4.9% (revised up from 2.5%) in March before rising 3.3% in April.
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