-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
Commodities
Real-time insight of oil & gas markets
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Chart Packs -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessREPEAT: Japan Jly Factory Output Slips But Pickup Trend Intact
Repeats Story Initially Transmitted at 00:47 GMT Aug 31/20:47 EST Aug 30
--Japan July Industrial Output -0.8% M/M; MNI Median -0.4%
--Japan METI Forecast Index: Aug Output +6.0% M/M, Sep -3.1%
--METI: Adjusting For Upward Bias, Aug Output Seen +1.4%, Sep Flat
--Japan July-Sep Industrial Output Seen Up for 6th Straight Quarter
--Japan METI Maintains View: Output Shows Signs of Pickup
TOKYO (MNI) - Japan's preliminary industrial production from the Ministry
of Economy, Trade and Industry released Thursday.
* Industrial production posted the first month-on-month drop in two months
in July, falling a seasonally adjusted 0.8% in what the government called a
"relatively small reaction" to the strong 2.2% rise in June. The July result was
weaker than the MNI median forecast for -0.4% but production's recovery trend
remains intact amid a gradual pickup in both external and domestic demand.
* The government maintained its assessment that factory output "shows signs
of a pickup," noting it rose 4.7% on year, the ninth straight year-on-year
increase, and the level of the Index of Industrial Production stood at 101.5 in
July, above the 101.0 average in the first six months of the year.
* The decrease in July output was led by lower production of chip-making
machinery, turbines, electric machinery, chemicals and mini vehicles.
* METI forecast for factory output based on its survey: +6.0% on month in
August (revised up from +3.6% projected last month); -3.1% in September. Based
on this projection, production in the July-September quarter is estimated to
rise 2.4% on quarter, which would be the sixth straight quarterly increase after
+2.1% in April-June.
* Adjusting the upward bias in output plans, the METI projected production
would rise only 1.4% on month in August. On this assumption, the level of
production in September is likely to be flat or slightly lower than in August,
the METI said.
* Shipments fell 0.7% on month in July, the first drop in two months after
+2.5% in June, while rising 4.1% on year, the ninth straight y/y increase.
* Inventories fell 1.2% on month in July, for the second consecutive
month-on-month drawdown after -2.0% in June, and declined 2.4% on year for the
14th straight year-on-year fall after -2.9% in June. The buildup of industrial
inventories peaked in May and the level of inventories has fallen close to that
seen at the start of the year.
* Shipments of capital goods excluding transport equipment - a key
indicator of the business investment component of GDP data - fell 4.4% on month
in July, the second consecutive drop after -0.9% in June, showing a slow start
to the July-September quarter.
--MNI Tokyo Bureau; tel: +81 90-2175-0040; email: hiroshi.inoue@marketnews.com
--MNI Tokyo Bureau; tel: +81 90-4670-5309; email: max.sato@marketnews.com
--MNI BEIJING Bureau; +1 202-371-2121; email: john.carter@mni-news.com
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.