Japan factory output turns down in July as inventory shrinks

AFP, TOKYO: Japan’s factory output turned down in July as manufacturers cut back on inventory stockpiles, government data showed yesterday.

Industrial production slipped 0.8 per cent month-on-month after a revised 2.2 per cent rise in June, the Ministry of Trade and Industry said.

The fall was bigger than expected, with the median forecast by economists coming in at a drop of 0.3 per cent in a Bloomberg survey.

But the ministry kept its view that manufacturing activity is on the path to recovery and said the July drop was “small” considering the robust growth in June.

Inventories fell, showing Japan’s factory output “continued its recovery movements,” the ministry said.

Japan’s prospects have been improving on the back of strong exports, while concerns linger with overall inflation remains weak despite years of government efforts.

Japan factory output turns down in July as inventory shrinks

AFP, TOKYO: Japans factory output turned down in July as manufacturers cut back on inventory stockpiles, government data showed yesterday. Industrial production slipped 0.8 per cent month-on-month after a revised 2.2 per cent rise in June, the Ministry of Trade and Industry said. The fall was bigger than expected, with the median forecast by economists coming in at a drop of 0.3 per cent in a Bloomberg survey. But the ministry kept its view that manufacturing activity is on the path to recovery and said the July drop was small considering the robust growth in June. Inventories fell, showing Japans factory output continued its recovery movements, the ministry said. Japans prospects have been improving on the back of strong exports, while concerns linger with overall inflation remains weak despite years of government efforts.