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Japan Industrial Output Rises 1.1% In October

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Industrial output in Japan gained a seasonally adjusted 1.1 percent on month in October, the Ministry of Economy, Trade and Industry said on Tuesday.

That was shy of expectations for an increase of 1.8 percent following the 5.4 percent decline in September.

On a yearly basis, industrial production retreated 4.7 percent after sinking 2.3 percent in the previous month.

Upon the release of the data, the METI adjusted its monthly assessment of industrial production to that it is pausing.

Shipments were up 2.0 percent on month and down 6.1 percent on year, while inventories rose 0.8 percent on month and 2.4 percent on year. The inventory ratio was flat on month and up 5.3 percent on year.

According to the METI's forecast for industrial production, output is expected to jump 9.0 percent in October and gain 2.1 percent in December.

Industries contributing to the increase in November include transport equipment, production machinery and electronics equipment.

Industries contributing to the increase in December include transport equipment, electrical machinery and iron and steel.

Also on Tuesday, the Ministry of Internal Affairs and Communications said that the unemployment rate in Japan came in at a seasonally adjusted 2.7 percent in October.

That was below expectations for 2.8 percent, which would have been unchanged from the September reading.

The job-to-applicant ratio was 1.15, missing forecasts for 1.17 and down from 1.16 in the previous month.

The participation rate was 62.0 percent, down from 62.3 percent a month earlier.

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