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Japan Jan Ind. Output -7.5% M/M; Shipments -8.3% M/M On Auto

JAPAN DATA
MNI (Singapore)
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  • Japan's industrial production dropped 7.5% in January compared with last month, marking the first fall in two months and the lowest reading since May 2020. The fall was led by the automobile industry.
  • Shipments decreased by 8.3% m/m, marking the first drop in two months. The automobile industry had the largest contribution to the decline.
  • Inventory decreased for a second month by 1.8% m/m, led by automobile industry.
  • METI downgrades its assessment of production as "`weak, with some fluctuations" from the previous "up and down", considering the big fall in January.
  • METI sees production will rise 4.8% (revised up from 2.2%) in February before rising 2.0% in March.
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  • Japan's industrial production dropped 7.5% in January compared with last month, marking the first fall in two months and the lowest reading since May 2020. The fall was led by the automobile industry.
  • Shipments decreased by 8.3% m/m, marking the first drop in two months. The automobile industry had the largest contribution to the decline.
  • Inventory decreased for a second month by 1.8% m/m, led by automobile industry.
  • METI downgrades its assessment of production as "`weak, with some fluctuations" from the previous "up and down", considering the big fall in January.
  • METI sees production will rise 4.8% (revised up from 2.2%) in February before rising 2.0% in March.