The preliminary estimates by the Ministry of Economy, Trade and Industry (METI) revealed that the industrial production in Japan boosted 4.9 percent y-o-y in June, exceeding economists' forecast for a gain of 4.8 percent following a 6.5 percent surge in May. In m-o-m terms, Japan's industrial output rose 1.6 percent last month, missing economists forecast for an increase of 1.7 percent following a 3.6 percent decline in May. The main contributors to the June gain were higher production in such industries as transport equipment, chemicals and electrical machinery. On the contrary, electronic parts and devices, iron and steel as well as other manufacturing had a negative impact on the reading. The METI also said that shipments rose 2.3 percent m-o-m and 5.1 percent y-o-y in June, while inventories reduced 2.2 percent m-o-m and 3.1 y-o-y. According to The Survey of Production Forecast, industrial production is projected to increase 0.8 percent in July and 3.6 percent in August.