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Japan industrial production down 6.6% in January

Japan's seasonally adjusted industrial production index slipped 6.6% month over month to 99.5 in January, preliminary data from the Ministry of Economy, Trade and Industry showed.

Industrial production in January was assessed as "picking up slowly."

On an annual basis, the original index edged up 2.7% to 95.6.

Inventories and shipments were down 0.6% and 5.6% month over month, respectively, while inventory ratio rose 3.0%.

According to the ministry's forecast, production is expected to rise 9.0% in February and slip 2.7% in March.