Economic Buzz: Japan Industrial Production Dives 1.3% On Month In January

28 Feb 2022 , 09:24 AM

Japan industrial output fell a seasonally adjusted 1.3 percent on month in January, the Ministry of Economy, Trade and Industry said on Monday, following the 1.0 percent drop in December. On a yearly basis, industrial production sank 0.9 percent following the 2.7 percent increase in the previous month. Upon the release of the data, the METI maintained its assessment of industrial production, saying that it is showing signs of upward movement. Industries that contributed to the decline included motor vehicles, iron and steel and chemicals. These were offset by increases among electronic parts and production machinery. Shipments were down 1.8 percent on month and 1.2 percent on year, while inventories fell 1.8 percent on month and climbed 4.1 percent on year. The inventory ratio was down 1.3 percent on month and up 4.1 percent on year.

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