Economic Buzz: Japan industrial production sinks 1.6% in July

Industrial production in Japan was down a seasonally adjusted1.6 percent on month in July, the Ministry of Economy, Trade and Industry said on Friday.

On a yearly basis, industrial production was down 0.9 percent.

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

Shipments were down 2.5 percent on month and 2.1 percent on year, while inventories rose 0.8 percent on month but fell 2.5 percent on year. The inventory ratio was up 0.4 percent on month and 1.4 percent on year.

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