Economic Buzz: Japan industrial production drops 1.2% in July

Japan industrial production declined less than initially estimated in July, final data from the Ministry of Economy, Trade and Industry showed on Friday. Industrial production dropped 1.2 percent month-on-month in July, reversing a 2.1 percent recovery in June. In the initial estimate, industrial output showed a decrease of 1.6 percent. Shipments fell 2.1 percent over the month, while inventories logged an increase of 0.9 percent. Data showed that the inventory ratio rose slightly by 0.1 percent. On a yearly basis, industrial production contracted 0.4 percent versus a 4.4 percent growth in the prior month. Further, data showed that capacity utilization dropped 1.1 percent, following a 1.8 percent fall a month ago.

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