Japan Industrial Output Grows More Than Estimated

(RTTNews) - Japan's industrial production expanded more than initially estimated in June, reaching its highest level in five months, according to official data released Monday.

Industrial production rose 1.9 percent month-on-month in June, significantly outpacing the 0.1 percent increase in May. The initial flash estimate had projected a more modest 0.3 percent gain.

Shipments dropped 0.2 percent monthly in June, while inventories logged an increase of 2.8 percent. Data showed that the inventory ratio advanced 4.1 percent.

On a yearly basis, the decline in industrial production eased to 2.2 percent from 5.0 percent in May.

Separate official data from METI revealed that the tertiary activity index dropped 0.2 percent monthly in June, in contrast to a stable 0.8 percent growth in May.

Among industries, retail trade, living and amusement-related services, utilities, real estate, business-related services, wholesale trade, and medical, healthcare, and welfare all decreased during June.