Japanese industrial production growth in December was revised down from 0.3% MoM in the initial estimate to a -0.2% MoM drop.

• Growth in shipments was also revised down from 0.5% MoM to 0.2% MoM.
• The inventory contraction was unchanged at -0.7% MoM.
• Capacity utilization fell -0.2% MoM after a -1.9% MoM decline in November, and production capacity eased -0.1% MoM.
• In Q4 2024, production capacity fell -0.5% MoM, and capacity utilization increased 2.3% QoQ due to a strong October increase.