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Industrial output in Japan was up 1.8 percent on month in August, the Ministry of Economy, Trade and Industry said in a preliminary report on Wednesday, posting a seasonally adjusted index score of 84.1.
The result was in line with analyst expectations following a 2.1 percent monthly increase in July, and it marked the sixth consecutive month of increase.
On an annual basis, industrial output was down 18.7 percent compared to forecasts for an 18.8 percent decline following the 22.7 percent contraction in the previous month. Industries contributing to the increase include steel and iron, transportation equipment and electronic parts.
Shipments were up 1.0 percent on month in August, rising for the sixth straight month to a seasonally adjusted index score of 84.5 thanks to gains among steel and iron, general machinery and petroleum and coal products. Shipments were down 18.6 percent on year.
Inventories were flat on month with a seasonally adjusted index score of 95.0 in spite of gains among the electronics parts and machinery, as well as transportation equipment. Inventories were down 10.4 percent on year.
The inventory ratio was down 0.8 percent on month in August, falling for the third consecutive month with a seasonally adjusted index score of 122.6. The ratio was up 11.4 percent on year.
Output is forecast to climb 1.1 percent on month in September and 2.2 percent in October, according to a survey of large companies. Spurring the gains in September are orders for transportation equipment, general machinery and chemicals, while the October reading is spurred by gains among information and communications equipment, general machinery and steel and iron.
As a result of the data, the METI has left its assessment for industrial output unchanged.
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