Japan Industrial Production Slides 0.8% In July

Industrial output in Japan fell a seasonally adjusted 0.8 percent on month in July, the Ministry of Economy, Trade and Industry said on Thursday.

That missed forecasts for a decline of 0.3 percent following the 2.2 percent spike in June.

On a yearly basis, industrial production climbed 4.7 percent - again missing forecasts for 5.2 percent and down from 5.5 percent in the previous month.

Upon the release of the data, the METI maintained its assessment of industrial production saying was that it shows signs of picking up.

Industries that were down in July included business oriented machinery, electrical machinery and chemicals - while electronic parts, ceramics and petroleum products were up.

Shipments were down 0.7 percent on month and up 4.1 percent on year.

Industries that were down included business oriented machinery, electrical machinery and iron and steel - while electronic parts, petroleum products and transport equipment were up.

Inventories were down 1.2 percent on month and 2.4 percent on year.

Industries that saw decreased production included transport equipment, petroleum products and electrical machinery.

Industries that were up included non-ferrous metals, chemicals and electronic parts.

According to the survey of production forecast, industrial output is expected to rise 6.0 percent in August and fall 3.1 percent in September.

Industries that are expected to contribute to the increase in August include business oriented machinery, transport equipment and electrical machinery.

Industries expected to contribute to the decline in September include business oriented machinery, communications equipment and electronic parts.

News are provided by InstaForex