Japan Industrial Output Recovers More Than Estimated

(RTTNews) - Japan's industrial production expanded more than initially estimated in June, final data from the Ministry of Economy, Trade and Industry showed on Friday.

Industrial production climbed 2.1 percent month-on-month in June, reversing a 0.1 percent decline in May. In the initial estimate, industrial output showed an increase of 1.7 percent. Further, this was the first increase in three months.

The recovery in June was driven by a 0.9 percent increase in inventory ratio. Meanwhile, shipments dropped 0.8 percent over the month, while inventories logged a decrease of 0.3 percent.

On an annual basis, industrial production contracted 4.4 percent versus a 2.4 percent fall in the prior month.

Further, data showed that capacity utilization dropped 1.8 percent, following a 2.3 percent decrease a month ago.