Japanese industrial production declined for the fifth consecutive month in February, a revised report from the Ministry of Economy, Trade and Industry or METI showed Wednesday. In February, production fell 9.4% month-on-month, in line with initial estimate. Output recorded an annual fall of 38.4%.

Further, the METI said shipments dropped 6.1% from January, while inventory slipped 4.2%. Year-on-year, shipments and inventory decreased 36.7% and 1.7%, respectively.

On a seasonally adjusted basis, production capacity showed a monthly fall of 11.9% in February compared to a 12.9% decline seen in January.

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