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Japan Jul Ind. Output +2.8% M/M; First Fall In 2 Mths

JAPAN DATA
MNI (Singapore)
  • Japan's industrial production rose 2.8% in July compared with last month, marking the first rise in two months. The rise was led by the electrical and information and communications machinery industry.
  • Shipments increased by 2.4% m/m, the first monthly rise in two months. The electrical and information and communications machinery industry had the largest contribution to the increase.
  • Inventory rose 0.4% m/m, led by the automobile industry.
  • METI upgrades its assessment of production as "fluctuating smoothly" from the previous "weak, with some fluctuations", considering the effect of destocking and increasing production plans in August and shrinking production plan in September.
  • METI sees production will rise 2.2% (revised up from 0.7%) in August before falling 3.3% in September.
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