Industrial output in Japan picked up a seasonally adjusted 0.1 percent on month in February, the Ministry of Economy, Trade and Industry said on Thursday.
That missed expectations for an increase of 0.5 percent following the upwardly revised 0.8 percent contraction in January (originally -1.3 percent).
On a yearly basis, industrial production rose 0.2 percent, matching forecasts after slipping 0.5 percent in the previous month.
Upon the release of the data, the METI maintained its assessment of industrial production, saying that it is continuing to show signs of an upward movement.
Contributing to the increase were motor vehicles, transport equipment and business-oriented machinery. This was offset by declines among chemicals and other manufacturing.
Shipments were down 1.3 percent on month and 1.7 percent on year.
Contributing to the decrease were petroleum and coal products, production machinery and electrical machinery. This was offset by gains among motor vehicles, business-oriented machinery and other manufacturing.
Inventories were up 1.9 percent on month and 7.3 percent on year.
Contributing to the increase were motor vehicles, electrical machinery and petroleum products. This was offset by declines among electronic parts and chemicals.
The inventory ratio rose 3.0 percent on month and 8.2 percent on year.
According to the METI’s forecast of industrial production, output is seen higher by 3.6 percent in March and by 9.6 percent in April.
Industries contributing to the increase in March include transport equipment, electrical machinery and fabricated metals.
Industries contributing to the increase in April include production machinery, electrical machinery and transport equipment.