Industrial production in Japan jumped a seasonally adjusted 2.7 percent on month in December, the Ministry of Economy, Trade and Industry said in Wednesday’s preliminary reading.
That beat expectations for an increase of 1.5 percent following the 0.5 percent gain in November.
On a yearly basis, industrial production jumped 4.2 percent – again beating forecasts for 3.2 percent and up from 3.6 percent in the previous month.
Upon the release of the data, the METI maintained its assessment of industrial production saying that it is picking up.
Industries that were up in December included transport equipment, business-oriented machinery and fabricated metals – while electronics equipment, petroleum and coal products and chemicals were down.
Shipments were up 2.7 percent on month and up 4.0 percent on year.
Industries that were up included transport equipment, business oriented machinery and electronic parts – while iron and steel, electronics equipment and chemicals were down.
Inventories shed 0.4 percent on month and climbed 2.0 percent on year.
Industries that were down included transport equipment, petroleum and coal products and electronics devices. Industries that were up included electrical machinery, electronics equipment and iron and steel.
According to the survey of production forecast, industrial output is expected to fall 4.3 percent in January and rise 5.7 percent in February.
Industries expected to contribute to the decline in January include transport equipment, business-oriented machinery and fabricated metals.
Industries that are expected to contribute to the increase in February include business oriented machinery, transport equipment and electronic parts.
The material has been provided by InstaForex Company – www.instaforex.com
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