MNI DATA IMPACT: Japan Jan Ind. Output +0.8% M/M; Shipment Up

     TOKYO (MNI) - Japan's industrial production is still weak but increased for

a second month in January as demand for consumer goods improved shipments, data

released by the Ministry of Economy, Trade and Industry (METI) Friday showed. 

     Here are key points in the data: 

--Industrial production edged up for a second month by 0.8% m/m in January,

compared with last month's 1.3% m/m gain. The growth was led by the chemical and

pharmaceutical industries and the automotive industry. The keynote however was

revised by METI to say "production is weakening while recovering".

     --Shipments rose 0.2% m/m in January, up from the 0.0% m/m reported in

December, helped by rising shipments of both durable and non-durable consumer

goods.

     --Inventories increased for a second month by 1.5% m/m, following the 1.6%

m/m gain in the previous month. The increase was driven by rising inventories in

the automotive industry, production machinery industry, and the petroleum and

coal products industry.

     --METI sees production rising 5.3% (revised up from 4.1%) in February

before dropping 6.9% in March. 

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

--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com

[TOPICS: M$A$$$,M$J$$$,M$U$$$,MT$$$$]