Japan Industrial Production Rises 0.6% In November

Industrial output in Japan climbed a seasonally adjusted 0.6 percent on month in November, the Ministry of Economy, Trade and Industry said in Thursday's preliminary reading.

That beat expectations for an increase of 0.5 percent, which would have been unchanged from the October reading.

On a yearly basis, industrial production advanced 3.7 percent – again beating forecasts for 3.6 percent but down from 5.9 percent 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 were up in November included business oriented machinery, electronic parts and devices and petroleum and coal products – while chemicals, plastic products and other manufacturing were down.

Shipments were up 2.4 percent on month and up 2.4 percent on year.

Industries that were up included iron and steel, petroleum and coal products and business oriented machinery – while other manufacturing was down.

Inventories shed 1.0 percent on month and climbed 2.8 percent on year.

Industries that were down included iron and steel, chemicals and non-ferrous metals. Industries that were up included transport equipment, business oriented machinery and electronic parts.

According to the survey of production forecast, industrial output is expected to rise 3.4 percent in December and fall 4.5 percent in January.

Industries that are expected to contribute to the increase in December include business oriented machinery, electronic parts and transport equipment.

Industries expected to contribute to the decline in January include transport equipment, fabricated metals and electrical machinery.

Also on Thursday, the METI said that retail sales in Japan were up a seasonally adjusted 1.9 percent on month in November. That beat forecasts for a gain of 0.7 percent following the downwardly revised 0.1 percent contraction in October.

On a yearly basis, retail sales climbed 2.2 percent – again topping expectations for a gain of 1.0 percent following the 0.2 percent slide in the previous month.

Sales from large retailers advanced an annual 1.4 percent, exceeding expectations for a gain of 1.0 percent after dipping 0.7 percent a month earlier.

by RTT Staff Writer

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