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(CEP News) - According to the Ministry of the Economy, Trade and Industry, preliminary findings of industrial production in Japan suggested a 2.9% month-over-month advancement, above forecasts for a 2.7% increase and the previous month's 0.2% decline.
On an annual basis, production was up 1.2%, in line with the consensus but slower than the previous month's 1.7% increase. Monthly shipments advanced by 2.1% after rising 0.9% in April while inventories picked up by 0.5% compared to a previous month's 1.2% decrease. The inventory ratio contracted by 0.2% in May following a previous 3.9% fall. By Erik Kevin Franco,
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, edited by Stephen Huebl,
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