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Japan Jan Ind. Output +4.2% M/M; First Rise in 3 Months

JAPAN DATA
MNI (Singapore)
  • Japan's industrial production rose 4.2% m/m in January after falling 1.0% m/m last month, marking the first monthly rise in three months.
  • Shipments increased 3.2% m/m in January, led by the growth in automobiles and the electrical information and communication machinery industry.
  • Inventories fell for the first time in two months by 0.2% m/m, after rising 1.1% m/m in December.
  • METI sees production rising 2.1% (revised up from -0.3%) in February before falling 6.1% in March.
  • METI kept its assessment on factory output as "recovering," based on a recovering demand from both domestic and overseas but also warned of the downward risk to the economy from the spread of the pandemic.
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