Economic Buzz: Japan industrial production grows 2.3% in February

Japan's industrial production rebounded in February but at a slower than initially estimated pace, final data from the Ministry of Economy, Trade and Industry showed on Monday.

Industrial production grew 2.3 percent month-on-month in February, reversing January's 1.1 percent decline. The growth rate for February was revised down from 2.5 percent.

Growth in shipments was confirmed at 3.0 percent and the monthly fall in inventories matched the initial estimate of 1.7 percent. Likewise, inventory ratio fell 3.5 percent, in line with the initial estimate.

On a yearly basis, industrial production gained 0.1 percent, which was down from the initial estimate of 0.3 percent.

Further, data showed that capacity utilization dropped 1.1 percent, in contrast to January's 4.5 percent increase.

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