Japan Industrial Output Adds 0.5% In May

(RTTNews) - Industrial production in Japan was up a seasonally adjusted 0.5 percent on month in May, the ministry of Economy, Trade and Industry said on Monday.

That missed forecasts for an increase of 3.4 percent following the 1.1 percent decline in April.

On a yearly basis, industrial production was down 1.8 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 2.2 percent on month and down 2.4 percent on year, while inventories fell 1.9 percent on month and 3.2 percent on year. The inventory ratio was down 1.9 percent on month and up 1.0 percent on year.

According to the METI's forecast of industrial production, output is expected to rise 0.3 percent in June and fall 0.7 percent in July.