Japan Industrial Production More Than Estimated

Japan’s industrial production rose more than estimated in July, final data from the Ministry of Economy, Trade and Industry showed on Monday.

Industrial production rose a seasonally adjusted 8.7 percent monthly in July. In the initial estimate, output rose 8.0 percent.

Shipments rose 6.6 percent month-on-month in July versus a 6.0 percent increase in the initial estimate.

Inventories fell 1.5 percent month-on-month in July. According to the initially estimate inventories declined 1.6 percent.

The inventory ratio decreased 8.9 percent in July versus a 8.8 percent fall in the initial estimate.

On a yearly basis, industrial production declined 15.5 percent in July. According to the initial estimate, output fell 16.1 percent.

Data also showed that the capacity utilization rose 9.6 percent monthly in July and declined 19.2 percent from a year ago.

Separate data from the statistical office showed that the tertiary industry activity declined 0.5 percent monthly in July.

Data showed that the broad-ranging personal services decreased 1.4 percent in July, and broad-ranging business services gained 0.5 percent.

Among components, retail trade, electricity, gas, heat supply and water, finance and insurance, medical, health care and welfare, and goods rental and leasing declined in August.

Meanwhile, living and amusement-related services, wholesale trade, business-related services, transport and postal activities, information and communications, and retail sales increased.

On a yearly basis, tertiary activity decreased 9.4 percent in July.

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