Japan Industrial Output Sinks 1.1% In March

(RTTNews) - Industrial production in Japan was down a seasonally adjusted 1.1 percent on month in March, the Ministry of Economy, Trade and Industry said on Wednesday.

That missed forecasts for a decline of 0.5 percent following the 2.3 percent increase in February.

On a yearly basis, industrial production was down 0.3 percent.

Upon the release of the data, the METI maintained its assessment of industrial production, saying that it continues to fluctuate indecisively.

Shipments were down 2.8 percent on month and 1.3 percent on year in March, while inventories rose 0.9 percent on month and fell 1.0 percent on year. The inventory ratio was up 4.5 percent on month and 0.7 percent on year.

According to the METI's forecast of industrial production, output is expected to rise 1.3 percent in April and 3.9 percent in May.