FX.co ★ Japan Industrial Output Falls 2.2%, More Than Estimated

Japan's industrial production contracted more than initially estimated in May,?the latest data from the Ministry of Economy, Trade, and Industry showed on Friday.

Industrial production dropped by a seasonally adjusted 2.2 percent month-on-month in May,?reversing a 0.7 percent rise in April. Further, this was the first decline in four months.

In the flash report, the rate of decline was 1.6 percent.

Shipments fell 1.1 percent monthly in May, while inventories advanced 1.8 percent. The data showed that the inventory ratio also showed an increase of 1.5 percent.

On a yearly basis, industrial production recovered strongly by 4.2 percent in May after a 0.7 percent decrease in the prior month. The increase in May was revised down from 4.7 percent. It was the first growth since November last year.