Japan Industrial Output -1.2% On Month, -1.3% On Year In August

(RTTNews) - Industrial production in Japan was down a seasonally adjusted 1.2 percent on month in August, the Ministry of Economy, Trade and Industry said on Tuesday.

That missed forecasts for a decline of 0.7 percent following the 1.2 percent drop in July.

On a yearly basis, industrial production slumped 1.3 percent.

Upon the release of the data, the METI maintained its assessment of industrial production, saying that it continues to fluctuate indecisively.

Shipments were up 0.5 percent on month and down 1.1 percent on year, while inventories fell 1.0 percent on month and 2.9 percent on year. The inventory ratio rose 2.5 percent on month and 0.6 percent on year.

According to the METI's forecast, industrial production is expected to jump 4.1 percent in September and 1.2 percent in October.