MNI 5 THINGS: Japan Jan Industrial Output Falls 3.7% M/M: METI

--Japan METI Forecast Index: Feb Output +5.0% M/M, Mar -1.6%

--METI Cuts View - Factory Output Seen Marking Time

     TOKYO(MNI) - Japan's industrial production slid for a third straight month

in January preliminary data released Thursday by the Ministry of Economy, Trade

and Industry showed, with METI cutting its outlook to "production is marking

time" from the previous "production is picking up moderately", 

     Here are five key points: 

--Industrial production fell 3.7% m/m in January, following the drop of 0.1% m/m

reported in December and below an MNI survey forecast of a projected 2.6% drop. 

     --Output in 12 out of 15 industries declined month-on-month. Drops in

automobiles, the electric/information communication machinery and production

machinery industry largely contributed to the reduction.

     --Shipments fell by 4.0% m/m in January, down from the 0.3% gain in

December. The decrease, which marks the first m/m drop since February 2018, was

led by declines in automobiles, transportation machinery and production

machinery.

     --Inventories decreased for the first time in three months by 1.5% m/m in

January, down from December's 1.0 m/m growth. 

     --Industrial production may rise 5.0% on month in February (the growth was

revised up from +2.6% in the previous forecast), and fall 1.6% m/m in March,

METI said.

--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email: flora.guo@marketnews.com

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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