Japan industrial production remains flat in October, lower than market expectations

Industrial production in Japan remained flat during the month of October, also lower than what markets had initially anticipated.

A final measure of Japanese industrial production was revised down to zero in October, official data showed on Wednesday. Industrial production failed to grow in October, data released by the Ministry of Economy, Trade and Industry showed in a final estimate Wednesday.

Compared to a year ago, industrial output was revised up to show a 1.4 percent decline. Preliminary estimates last month showed a 0.1 percent monthly increase, which translated into a 1.3 percent year-over-year decline. At the same time, inventories dropped 2.1 percent, confirming the preliminary figure.

Further, compared to September, shipments rose 2 percent. They were down 2 percent annually. Inventories fell 2.1 percent month-on-month and were down 3 percent compared to a year ago. Meanwhile, Japan’s capacity utilization rate climbed 1.4 percent in October.

Meanwhile, the USD/JPY traded at 115.17, down -0.02 percent, while at 6:00GMT, the FxWirePro's Hourly Yen Strength Index remained slightly bearish at -77.54 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex