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(CEP News) - Preliminary industrial production showed a 0.9% month-over-month increase in July compared to forecasts for a 0.3% pullback and a -2.2% growth rate in June, according to a report from the Japanese Ministry of Economy, Trade and Industry on Friday.
Meanwhile, annual production rose 2.0%, above the consensus for an increase of 0.6% and a previous flat reading. Shipments rose 1.6% on the month after contracting 3.0% in June while inventories rolled back by 0.2% after growing 1.2% previously. The report also noted a 3.5% month-over-month decrease in the inventory ratio, which rose 3.8% in June. Earlier on Friday, the Bank of Japan reported that national CPI rose to 2.3% in July, up from June's 2.0% increase. Core CPI increased to 2.4%, up from last month's 1.9% increase and above expectations for a 2.3 increase. By Megan Ainscow,
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