Japan July chemical output up 1.5% from June; down 3.1% on year

31 August 2012 04:06  [Source: ICIS news]

TOKYO (ICIS)--Japan’s production of chemicals, excluding pharmaceuticals, in July increased by 1.5% month on month, but fell by 3.1% year on year, official data from the country’s Ministry of Economy, Trade and Industry (METI) showed on Friday.

Plastic production in the country rose 7.2% in July from the previous month, but decreased 7.5% from the same period last year, according to the ministry.

Japan’s overall industrial production fell 1.2% month on month, and declined 1% year on year, based on METI data.

Industries that mainly contributed to the month-on-month decrease were electronic parts and devices, general machinery, and precision instruments in that order, METI said.

Japanese producers now forecast the country’s industrial production to stay flat in August from July, pegging the growth at 0.1% - better than an initial expectation of a 0.6% contraction for the month, based on METI’s survey.

In September, the producers project a 3.3% contraction in industrial output, according to the ministry.

By: Tomomi Yokomura
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