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Forex News

12/28/2017 10:40:17

Japanese industrial production jumps in November

(ShareCast News) - Japanese industrial production shot ahead last month buoyed by output of semiconductor equipment and electronic parts, but companies were projecting relatively flat levels of output over coming months.

Total output grew at a 0.6% month-on-month clip (consensus: 0.5%), according to the country's Ministry of Economy and Finance, rising by 3.7% year-on-year.

Industrial shipments also grew, increasing by 2.4% in comparison to October.

Inventory levels on the other hand shrank by 1.0% on the month, pushing the inventory ratio down by 2.9% versus the prior month.

However, according to the results of a survey conducted by METI, industrial production was seen expanding by 3.4% on the month in December, albeit followed by a 4.5% drop in January.

Separate figures revealed a 1.9% rise in retail sales when compared to October (consensus: 0.7%), for a 2.2% rise year-on-year.

Following the release of Thursday's data, as of 0917 GMT dollar/yen was trading lower by 0.49% to 112.729.

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