MNI DATA IMPACT: Japan August Industrial Output Down 1.2% M/M

     TOKYO (MNI) - Japan's industrial production fell by 1.2% m/m in August, led

by slowing production and shipments in the machinery and automobile sectors,

Ministry of Economy, Trade and Industry (METI) data released Monday showed. 

     Here are key points in the data highlighted by MNI: 

--Industrial production fell 1.2% m/m in August, down from the 1.3% y/y gain in

July, outpacing an MNI survey of a 0.5% y/y drop. 

     --Shipments fell 1.4% m/m in July, down from the 2.6% rise in July. The

decrease was led by the slowdown in shipments of machinery and automobile

industries.

     --Inventories were unchanged, compared with the previous 0.3% m/m drop. "We

need to continue to pay attention to how current inventories level will impact

on the production," said METI.

     --Industrial production may rise 1.9% month-on-month in September (revised

up from -1.6% in the previous forecast), and fall 0.5% m/m in October, METI

forecast.

     --METI lowered its assessment by saying "factory output is weakening". METI

previously assessed that "factory output is marking time".

--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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