Industrial output in Japan was flat on a seasonally adjusted basis in November, the Ministry of Economy, Trade and Industry said on Monday.
That missed expectations for an increase of 1.2 percent following the 4.0 percent gain in October.
On a yearly basis, industrial production sank 3.4 percent, matching forecasts following the 3.0 percent drop in the previous month.
Upon the release of the data, the METI maintained its assessment of industrial production, saying that it is picking up.
Industries that increased included production machinery, business-oriented machinery and iron and steel. These were offset by declines among motor vehicles, chemicals and plastic products.
Shipments were down 0.9 percent on month and 3.9 percent on year, while inventories fell 1.1 percent on month and 8.7 percent on year. The inventory ratio slipped 1.8 percent on month and 1.2 percent on year.
Industries that contributed to the decline in shipments included motor vehicles, electrical machinery and petroleum products. These were mitigated by gains among production machinery, business oriented machinery and electronic parts and devices.
Industries that contributed to the decline in inventories included chemicals and production machinery. These were offset by gains among iron and steel, paper and plastic products.
According to the METI's forecast of industrial production, output is expected to sink 1.1 percent in December and then spike 7.1 percent in January.
Industries contributing to the loss in December include transport equipment, business oriented machinery and electrical machinery.
Industries contributing to the gain in January include production machinery, business oriented machinery and electronic parts.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2169416/
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