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Japan’s industrial production falls for the second month in a row

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  Japan s industrial production in October fell for the second month in a row down 2 6 percent from the previous month official data showed on Wednesday The seasonally adjusted production index reached 95 9 against the base of 100 in 2015 according to a preliminary report issued by the Ministry of Economy Commerce and Industry The decline came after a 1 7 percent decline in September which was revised down On a monthly basis the industrial shipments index fell 1 1 percent while the inventories index fell 0 8 percent for the first time in five months the report showed Officials attributed the weak data to a decline in the production of semiconductors and chip making machinery due to lower demand for smartphones Based on a survey of manufacturers the ministry expects industrial production to rise 3 3 percent in November and 2 4 percent in December According to the November survey on production forecast in manufacturing the country s industrial production is expected to increase 3 3 percent month on month in November and 2 4 percent year on year in December according to the report Xinhua
Japan’s industrial production falls for the second month in a row

Ministry of Economy

Japan‘s industrial production in October fell for the second month in a row, down 2.6 percent from the previous month, official data showed on Wednesday.

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The seasonally adjusted production index reached 95.9 against the base of 100 in 2015, according to a preliminary report issued by the Ministry of Economy, Commerce and Industry.

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The decline came after a 1.7 percent decline in September, which was revised down.

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On a monthly basis, the industrial shipments index fell 1.1 percent, while the inventories index fell 0.8 percent for the first time in five months, the report showed.

Officials attributed the weak data to a decline in the production of semiconductors and chip-making machinery due to lower demand for smartphones.

Based on a survey of manufacturers, the ministry expects industrial production to rise 3.3 percent in November and 2.4 percent in December.

According to the November survey on production forecast in manufacturing, the country’s industrial production is expected to increase 3.3 percent month-on-month in November and 2.4 percent year-on-year in December, according to the report. ■

(Xinhua)

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