According to data released today by the Ministry of Economy, Trade and Industry of Japan, industrial output, seasonally adjusted, rose in November 1.5% after flat in the previous month.

Shipments grew by 1%, which was slightly higher than the previous growth of 0.9%. At the same time, inventories fell by 1.6%, which was revised to 1.5% in the preliminary data.

On an annual basis, industrial production rose in November by 4.6%, after rising by 1.4% in the previous month. The data also showed that the capacity utilization rate increased by 3.0% on a monthly basis.