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Japan July Ind. Output Recovers; +8.0% M/M

JAPAN DATA
MNI (Singapore)
  • Japan's industrial production rose for a second straight month by 8.0% m/m in July, quicker than last month's 1.9% m/m gain.
  • Shipments increased 6.0% m/m in July, after growing 4.8% m/m in June, helped by the resumption of the economic activities in Japan and overseas.
  • Inventories declined 1.6% m/m from the previous month's 2.4% m/m decrease, marking the fourth monthly fall.
  • METI sees production rising 4.0% (revised up from 3.4%) in July before rising 1.9% in August.
  • The Ministry revised its assessment national production to "recovery" from the previous "declining sharply", noting that the fall in production is bottoming out.
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