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Asian Economic News

Japan Industrial Production Flat In September

By RTTNews Staff Writer   ✉   | Published:   | Follow Us On Google News
rttnewslogo20mar2024

Industrial output in Japan was unchanged on a monthly basis in September, the Ministry of Economy, Trade and Industry said on Monday.

That missed forecasts for an increase of 0.9 percent following the 1.3 percent gain in August.

On a yearly basis, production gained 0.9 percent - shy of expectations for a 1.9 percent increase following the 4.5 spike in the previous month.

Upon the release of the data, the METI maintained its assessment of output as showing signs of increase at a moderate pace.

Industries that had increased production were business oriented machinery, transport equipment and chemicals.

Industries that had decreased production were communication electronics equipment, electronic parts and devices, and fabricated metals.

Shipments were up 1.1 percent on month and down 0.1 percent on year.

Industries that had increased shipments were transport equipment, business oriented machinery and electrical machinery.

Industries that had decreased shipments were communication electronics equipment, fabricated metals and electronic parts and devices.

Inventories were down 0.4 percent on month and 2.0 percent on year.

Industries that had increased inventories were communication electronics equipment, iron and steel, and business oriented machinery.

Industries that had decreased inventories were electronic parts and devices, electrical machinery and petroleum and coal products.

The production forecast shows an increase of 1.1 percent in October and 2.1 percent in November.

Industries expected to contribute to the rise in October include business oriented machinery, electronic parts and devices and communication electronics equipment.

Industries expected to contribute to the rise in November include business oriented machinery, electronic parts and devices and electrical machinery.

Also on Monday, the METI said that retail sales in Japan were flat on a seasonally adjusted monthly basis in September. That missed expectations for an increase of 0.2 percent following the 1.2 percent decline in August.

On a yearly basis, retail sales skidded 1.9 percent - also shy of forecasts for -1.8 percent following the 2.1 percent contraction in the previous month.

Sales from large retailers tumbled am annual 3.2 percent versus forecasts for a decline of 2.7 percent after dropping 3.6 percent in the previous month.

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