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Japan May Ind. Output -1.6% M/M; 2nd Drop in 3 Mths

JAPAN DATA
MNI (Singapore)
  • Japan's industrial production decreased 1.6% m/m in May, marking the first drop in four months. The decrease, led by automobile industry, is driven by supply shortage of parts and raw materials.
  • Shipments fell for a second month by 0.6% from last month, dip further from last 0.4% m/m fall.
  • Inventory rose for the first time in two months by 1.5% m/m in May, led by automobile industry.
  • METI maintains its assessment of production as "gradual recovery" on future increasing production plans.
  • METI sees production will rise 5.6% (revised up from 1.2%) in June before falling 0.6% in July.
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