Industrial output in Japan advanced 1.5 percent on month in November, the Ministry of Economy, Trade and Industry said on Wednesday.
That missed forecasts for an increase of 1.7 percent following the flat reading in October.
On a yearly basis, industrial production climbed 4.6 percent – also shy of forecasts for 4.7 percent following the 1.4 percent contraction in the previous month.
Upon the release of the data, the METI upgraded its assessment of industrial production, saying that movement is picking up. Previously, the METI held that output was showing signs of increase at a moderate pace.
Industries that had increased production were business oriented machinery, transport equipment and electrical machinery.
Industries that had decreased production were ceramics, plastic products and paper products.
Shipments were up 0.9 percent on month and 5.0 percent on year.
Industries that had increased shipments were electronic parts, electrical machinery and transport equipment.
Industries that had decreased shipments were iron and steel and petroleum products.
Inventories were down 1.5 percent on month and 4.8 percent on year.
Industries that had increased inventories were electronic parts, chemicals and iron and steel.
Industries that had decreased inventories were business oriented machinery and transport equipment.
The production forecast shows an increase of 2.0 percent in December and 2.2 percent in January.
Industries expected to contribute to the rise in December include transport equipment, electronic parts and chemicals.
Industries expected to contribute to the rise in January include business oriented machinery, electronic parts and electrical machinery.
Also on Wednesday, the METI said that retail sales in Japan were up a seasonally adjusted 0.2 percent on month in November.
That beat forecasts for a decline of 0.5 percent, although it was down from the 2.5 percent spike in October.
On a yearly basis, retail sales jumped 1.7 percent – also beating expectations for 0.8 percent following the 0.2 percent contraction in the previous month.
Sales from large retailers were down 0.3 percent on year, beating forecasts for a fall of 0.5 percent after sliding 1.0 percent a month earlier.
by RTT Staff Writer
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