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Japan Feb Ind. Output -2.1% M/M; METI Sees Recovering

JAPAN DATA
MNI (Singapore)
  • Japan's industrial production fell 2.1% m/m in February after rising 4.3% m/m last month, marking the first monthly fall in two months.
  • Shipments decreased 1.5% m/m in February, led by the growth in automobiles and the electrical information and communication machinery industry.
  • Inventories fell for the first time in three months by 1.0% m/m, the lowest level within the normal range.
  • METI sees production falling 1.9% (revised up from -6.1%) in March before rising 9.3% in April.
  • METI kept its assessment on factory output as "recovering," based on a recovery in production in recent months, although the future outlook is impacted by the earthquake in Fukushima and the shortage of the semiconductors in the automobile industry. METI also warned of the downward risk to the economy from the spread of the pandemic.
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