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Japan June Ind. Output +8.9% M/M; METI Upgrade Keynote

JAPAN DATA
MNI (Singapore)
  • Japan's industrial production increased for the first time in three months by 8.9% m/m in June, led by automobile industry, electrical / information and communication machinery industry, due to the release of the lock downs in China.
  • Shipments marked rose 4.6% m/m from last month, automobile industry made the most contribution to the increase among 15 industries.
  • Inventories rose for the first time in four months by 2.1% m/m, driven by the growing demands from China.
  • METI upgrades its assessment to "production goes up and down" from the previous "weak" and sees production rising 3.8% (revised up from 2.5%) in July before rising 6.0% in August.
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