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Japan Jun Ind. Output +6.2% M/M; METI Sees Recovering

JAPAN DATA
MNI (Singapore)
  • Japan's industrial production rose 6.2% m/m in June after falling 6.5% m/m last month, the first rise in two months.
  • Shipments increased 4.3% m/m in June, led by the growth in automobiles industry.
  • Inventories rose 2.3% m/m, the first rise in three months.
  • METI sees production falling 1.1% (revised up from -1.4%) in July before rising 1.7% in August.
  • METI kept its assessment on factory output as "recovering," based on a recovery in production in months. METI said the production will go on increase but needs to pay close attention to the impact of semiconductor shortages on economic activities and the impact of the spread of mutant-type coronavirus infections on the domestic and foreign economies, METI warns.
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