2023.05.1706:20:00UTC+00Japan Industrial Production Grows 1.1%, More Than Estimated

Japan's industrial production expanded more than initially estimated in March, revised data from the Ministry of Economy, Trade, and Industry showed on Wednesday.

Industrial production rose by a seasonally adjusted 1.1 percent month-on-month in March, slower than the strong rebound of 4.6 percent in February. In the flash report, the rate of increase was 0.8 percent.

Shipments advanced 0.8 percent monthly in March, and the rise in inventories was 0.2 percent. The data showed that the inventory ratio showed a comparatively faster increase of 1.1 percent.

On a yearly basis, industrial production fell 0.6 percent in March after a 0.5 percent decline in the prior month. That was just below the 0.7 drop reported initially on April 27.

The capacity utilization showed no variations at the end of the first quarter, following a 0.1 percent fall in February. On a yearly basis, capacity utilization continued to decrease by 0.3 percent.