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Japan's industrial output down 0.1 pct in February

0 Comment(s)Print E-mail Xinhua, March 29, 2024
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TOKYO, March 29 (Xinhua) -- Japan's industrial output dropped 0.1 percent in February from a month earlier, marking the second consecutive month of contraction, government data showed on Friday.

The seasonally adjusted index of production at factories and mines in the reporting month stood at 97.9 against the 2020 base of 100, preliminary data from the Ministry of Economy, Trade and Industry showed.

The ministry attributed the overall decline to the effects of snowfall and ongoing production reductions in parts-related industries following the Noto Peninsula Earthquake.

The index of industrial shipments fell 0.4 percent to 96.2, while that of inventories rose 0.6 percent to 101.6, the data showed.

Overall, in the reporting period, 7 sectors reported a decline in output, with industries of motor vehicles, production machinery and transport equipment leading the contraction.

The government maintained its basic assessment that industrial production in Japan "showed weakness while fluctuating indecisively."

Based on a poll of manufacturers, the ministry expects output to grow 4.9 percent in March and 3.3 percent in April. Enditem

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