Industrial output in Japan added a seasonally adjusted 0.2 percent on month in April, the Ministry of Economy, Trade and Industry said in Thursday's preliminary reading - expanding for the second straight month.
The headline figure was shy of forecasts for an increase of 0.5 percent following the 1.3 percent increase in March.
On an annual basis, output climbed 13.4 percent - also missing expectations for an increase of 13.7 percent following the 14.2 percent increase in the previous month.
As a result of the data, the METI maintained its assessment of industrial production, saying: "Industrial production continued to show an upward movement."
Industries that contributed to the increase include transport equipment, chemicals and electrical machinery. Commodities that contributed to the increase include large passenger cars, automobile body parts and drive transmissions.
According to the survey of production forecast in manufacturing, production is expected to decrease 3.2 percent in May and to increase 2.4 percent in June.
Industries that contribute to the decrease in May include transport equipment, communications electronics and chemicals. Industries that contributed to the increase in June include electronic parts, electrical machinery and chemicals.
Shipments in April increased 0.9 percent on month, rising for the third consecutive month. Shipments also surged 16.3 percent on year. Industries that contributed to the decline included transport equipment, fabricated metals and electrical machinery.
Inventories in April were up 2.0 percent on month, rising for the second straight month. They also climbed 10.8 percent on year. Industries that contributed to the movement included transport equipment, electronic parts and chemicals.
The Inventory Ratio in April jumped 6.6 percent on month, gaining for the second consecutive month. It also fell 3.0 percent on year.
Upon the release of the data, the Japanese yen gained slightly against major opponents, trading near 79.03 against the U.S. dollar, 97.80 versus the euro, 81.44 against the Swiss franc and 122.38 versus the pound.
by RTT Staff Writer
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