Japan industrial production grew 1.0% mom in July, way better than expectation of -0.5% mom decline. The Ministry of Economy, Trade and Industry maintained its output assessment, “fluctuates indecisively” reflecting the ups and downs in production in recent months.
Six of the 15 industries reported output increases while eight declined. The auto industry saw the biggest increase by sector, by 12.0% mom.
Based on a poll of manufacturers, the ministry expects industrial output to grow 5.5 percent in August and rise 0.8 percent in September.
Also released, retail trade rose 2.4% yoy in July, above expectation of 1.9% yoy.
