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Japan Industrial Production Falls As Estimated

Japan's industrial production declined in August as initially estimated, final data from the Ministry of Economy, Trade and Industry showed on Tuesday.

Industrial production dropped 1.2 percent month-on-month in August, reversing a 1.3 percent rise in July. That was in line with the preliminary estimate.

On a monthly basis, shipments declined 1.3 percent in August instead of initially estimated 1.4 percent fall. Inventory dropped 0.1 percent compared to the initial estimate of flat growth.

Meanwhile, the inventory ratio grew 2.8 percent as estimated.

On a year-on-year basis, industrial production declined 4.7 percent in August as estimated, after a 0.7 percent rise in the preceding month.

Further, data showed that capacity utilization declined 2.9 percent on month, in contrast to July's 1.1 percent increase. This was the biggest fall since January.

Separate data from the statistical office showed that the tertiary industry activity gained 0.4 percent month-on-month in August. Economists had forecast a 0.6 percent rise.

On a yearly basis, tertiary activity grew 0.6 percent in August.

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