Japanese industrial production grows but less than expected, while the Nikkei index closed its worst quarter in the last year. In August, Japanese industrial output grew by 0,8% on a monthly basis, less than the 1,5% expected by experts. In July the figure had increased by 0,4%. The Tokyo Ministry of Industry announced it today. According to the same institute, industrial production should record a drop of 2,5% in September and then recover with a 3,8% in October.
The PMI index, indicative of the manufacturing market, recorded the worst result in the last five months. In August it fell to a value of 49,3 from 51,9, thus passing from the value of growth to that of contraction.
On the other hand, for the first time in the last 11 months, the production of cars, trucks and buses increased in August with an increase of 1,8% on an annual basis. Although domestic demand decreased (-22,4%), exports increased by 7,6%. This data is positive for the first time since the last six months.
Household consumption did not report positive values and fell by 4,1%, when experts had expected a drop of 2,8%. On the other hand, the consumer price index increased with a growth of 0,2% compared to the same period last year – more than the expectations which estimated an increase of 0,1%.
