Japan Nov Industrial Output Revised -2.7% M/M; Prelim -2.6%

TOKYO (MNI) – Japanese industrial production fell a revised 2.7%
month on month in November, worse than the preliminary reading of -2.6%,
data from the Ministry of Economy, Trade and Industry showed on
Wednesday.

Industrial output posted the first m/m fall in two months after
gaining 2.2% in October.

Last month, METI’s survey of firms showed that production is
expected to surge 4.8% m/m in December — revised up sharply from the
2.7% gain estimated in the previous survey — before rising 3.4% in
January (first estimate).

Compared with the year earlier level, production in November fell
4.2%, revised from the preliminary reading of -4.0%.

Other details from the latest data:

Shipments: Nov revised -1.6% m/m (preliminary -1.5%) vs. Oct +0.2%.

Inventories: Nov revised -0.6% (preliminary -0.8%) vs. Oct +0.9%.

The inventory-to-shipments ratio: Nov revised -1.6% (preliminary
-1.7%) vs. Oct -0.9%.

The capacity utilization ratio: Nov -2.9% m/m vs. Oct +4.1%.

tokyo@marketnews.com

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