Japan Industrial Output Rises As Estimated In October

Japan's industrial production climbed for the second straight month in October as initially estimated, final data from the Ministry of Economy, Trade and Industry showed Monday.

Industrial production rose a seasonally adjusted 1.4 percent month-over-month in October, confirming the flash data, after a 1.1 percent gain in September.

Similarly, shipments grew 2.1 percent in October, as reported earlier.

At the same time, the decline in inventories was confirmed at 1.9 percent. The inventory ratio dipped 3.0 percent, which was also came in line with provisional reading.

On an annual basis, industrial output fell 1.4 percent in October, faster than the 0.8 percent drop in the prior month. It was third consecutive monthly decline.

Further, the report showed that the capacity utilization rate increased a seasonally adjusted 1.3 percent monthly in October. This follows a 1.5 percent rise in September.

In a separate report, the ministry announced that the tertiary activity index climbed 0.9 percent month-on-month in October, reversing a 0.4 percent drop in the preceding month. Economists had expected 0.5 percent spike for the month.

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