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Japan Oct Ind. Output -0.9% M/M; Shipments -1.3% M/M

JAPAN DATA
MNI (Singapore)
  • Japan's industrial production fell 0.9% in November compared with last month. The automobile industry made the largest contribution to the decrease.
  • Shipments declined by 1.3% m/m, marking the first drop in three months, driven by the decline in general-purpose/commercial machinery industry.
  • Inventory increased for the second month by 0.1% m/m, led by automobile industry.
  • METI keeps its assessment of production as "up and down" considering the tendency of its production plan. We will continue to monitor the impact of the downturn in the global economy and rising prices, METI said.
  • METI sees production will rise 6.0% (revised up from 3.2%) in December before dropping 7.2% in January.
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