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Japan Jan Ind. Output -4.6% M/M; 1st Drop in 3 Mths

JAPAN DATA
MNI (Singapore)
  • Japan's industrial production dropped for the first time in three months by 4.6% m/m in January, led by machinery and automobile industries, due to the decreasing demands.
  • Shipments fell for the fifth consecutive month by 3.1% m/m, led by declines in the automobile industry and production machinery industry.
  • Inventories fell 0.9% from last month - the automobile industry made the largest contribution.
  • METI kept its assessment of production as "weak", and will continue to closely monitor the impact of the spread of the novel coronavirus on the domestic and foreign economies, the impact of supply shortages as well as rising prices.
  • METI sees production will rise 8.0% (revised up from 4.1%) in February before rising 0.7% in March.
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