Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Japan's industrial output fell 1.6% m/m in September for the first m/m drop in four months, preliminary data released Monday by the Ministry of Economy, Trade and Industry showed.
The fall followed a 3.4% rise the previous month and was driven by weaker production of motor vehicles, inorganic and organic chemicals, and production machinery .
Production of motor vehicles fell 12.4% m/m in September for the second straight month, following a decline of 1.3% in August, underscoring the gloomy outlook for automobile production due to the shortage of semiconductors.
Industrial production rose 5.9% q/q in the third quarter for the first rise in two quarters following a drop of 2.7% in the second quarter.
Based on its survey of manufacturers, METI projected that industrial production would fall 0.4% on month in October (revised down from a forecast of 3.2 % growth last month) and rise 0.8% in November.
Adjusting the upward bias in output plans, METI forecast production would fall 3.7% on month in October. Based on this assumption, and if December output were flat, production would fall 3.1% q/q in the December quarter, the first drop in two quarters following an increase of 5.9% in Q3.
The METI left its assessment unchanged, saying that industrial production is recovering moderately.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.