Japan Industrial Production +2.4% On Month In June

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Industrial output in Japan was up 2.4 percent in June compared to the previous month, the Ministry of Economy, Trade and Industry said on Thursday in a preliminary reading. That was in line with analyst expectations following the 5.7 percent monthly gain in May.

Inventories were down 1 percent on month and shipments were up 3.5 percent on month, while the inventory-shipment ratio fell 9.8 percent on month. Big companies' forecast for output predict a 1.6 percent monthly gain in July and a 3.3 percent jump in August.

On an annual basis, industrial production fell 23.4 percent versus expectations for a 23.6 percent decline after the 29.5 percent contraction in May.

For the second quarter, output was up 8.3 percent compared to the previous three months.

(Market News Provided by RTTNews)