MNI DATA IMPACT: Japan Mar Ind. Output Slowed On Covid-19

     TOKYO (MNI) - Japan's industrial production reported a second monthly fall

in March with shipments showing a significant drop due to the impact of the

Covid-19 disruptions, according to a release by the Ministry of Economy, Trade

and Industry (METI) on Thursday. 

     Here are key points in the data: 

--Industrial production fell 3.7% m/m in March after last month's 0.3% m/m

contraction, marking the biggest monthly drop since October 2019. The result

came in slower than the MNI median forecast of a 5.5% m/m drop. 

     --Shipments decreased by a significant 5.0% m/m in March, turning around

the 1.0% m/m gain reported in February. The decrease was due to shrinking

external demand, METI said.

     --With shipments slower than production, inventories rose for the first

time in two months by 1.9% m/m, compared with the 1.7% m/m drop in the previous

month.

     --METI sees production rising 1.4% (revised down from 6.8%) in April before

falling 1.4% in May and revised down its assessment to "(the production) is

declining", due to the impact of the virus. 

--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$$$,MT$$$$]