Free Trial

REPEAT: MNI 5 THINGS:Japan Feb Factory Output Up; Q1 Seen Down

Repeats Story Initially Transmitted at 05:35 GMT Mar 30/01:35 EST Mar 30
     TOKYO (MNI) - The key points from preliminary February industrial
production released on Friday by the Ministry of Economy, Trade and Industry
(METI).
     * The index of industrial production rose 4.1% on month in February to a
seasonally adjusted 103.4 (100 in the 2010 base year), coming in weaker than the
MNI median economist forecast for +5.1%. It didn't make up for the 6.8% slump in
January, prompting METI to predict factory output is "unlikely to post a gain in
the first quarter."
     * The first month-on-month rise in two months was led by higher output of
passenger cars, production machines and electronic parts.
     * Based on its survey of manufacturers, METI projected that industrial
production would rise 0.9% on month in March (revised up from -2.7% forecast
last month) and gain 5.2% in April.
     * Adjusting the upward bias in output plans, METI forecast production would
rise at a slower pace of 0.5% on month in March. Based on this assumption,
industrial production would fall 2.0% on quarter in January-March, the first
drop in eight quarters.
     * METI maintained its assessment after downgrading it last month, saying
industrial production is "picking up moderately."
--MNI Tokyo Bureau; tel: +81 90-4670-5309; email: max.sato@marketnews.com

To read the full story

Close

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.
}); window.REBELMOUSE_ACTIVE_TASKS_QUEUE.push(function(){ window.dataLayer.push({ 'event' : 'logedout', 'loggedOut' : 'loggedOut' }); });