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Japan Jun Ind. Output Up 2.7% M/M; 1st in 5 mth

JAPAN DATA
MNI (Singapore)
  • Japan's Industrial production increased 2.7% m/m in June, a significant turnaround from last month's 8.4% m/m contraction, marking the first monthly rise in five months.
  • Shipments rose 5.2% m/m in June, after dropping 8.4% m/m in May, led by rising demand from the automobile industry.
  • Inventories dipped for the third consecutive month by 2.4% m/m after the previous month's 2.5% m/m decrease, due to the rising shipments and the adjustments in production, METI said.
  • METI sees production rising 11.3% (revised up from 9.2%) in July before rising 3.4% in August. The Ministry kept to its assessment of "(the production) is declining sharply", due to the impact of the virus.
  • METI revised up its assessment to "production has stopped declining, and showed some signs of picking up".

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