Japanese industrial production increases
By Tomoko A. Hosaka |
June 1, 2010, Tuesday
|
Print Edition
Print Edition
JAPAN'S industrial production rose for a second straight month in April driven by robust growth in China and the rest of Asia.
Factory output expanded a seasonally adjusted 1.3 percent from March when it grew 1.2 percent, the government said yesterday.
The figure, however, undershot Kyodo news agency's average market forecast for a 2.5 percent increase.
Higher output among makers of machinery and fabricated metals led the advance, according to the Ministry of Economy, Trade and Industry's preliminary report. Parts used in flat-panel TVs also contributed to gains.
Shipments rose 1.6 percent, and inventories 0.3 percent.
The latest numbers follow data last week that revealed a mixed picture for Japan's economic recovery.
Exports in April surged more than 40 percent, expanding for a fifth straight month. The country's biggest auto makers released data last Friday showing major sales and production gains.
Toyota said it made 61.5 percent more cars, trucks and buses in April from a year earlier, despite massive global recalls that have hurt its reputation for quality.
Other figures suggest the export boom has yet to aid workers and families. The nation's unemployment rate rose to 5.1 percent and household spending retreated.
Deflation continued to deepen as core consumer prices fell 1.5 percent from a year earlier.
The outlook for Japan's factories appears weak as production is expected to decelerate in the next two months. The ministry's poll of manufacturers forecasts production to rise 0.4 percent in May and 0.3 percent in June.
Economists say the likely slowdown is inevitable.
Factory output expanded a seasonally adjusted 1.3 percent from March when it grew 1.2 percent, the government said yesterday.
The figure, however, undershot Kyodo news agency's average market forecast for a 2.5 percent increase.
Higher output among makers of machinery and fabricated metals led the advance, according to the Ministry of Economy, Trade and Industry's preliminary report. Parts used in flat-panel TVs also contributed to gains.
Shipments rose 1.6 percent, and inventories 0.3 percent.
The latest numbers follow data last week that revealed a mixed picture for Japan's economic recovery.
Exports in April surged more than 40 percent, expanding for a fifth straight month. The country's biggest auto makers released data last Friday showing major sales and production gains.
Toyota said it made 61.5 percent more cars, trucks and buses in April from a year earlier, despite massive global recalls that have hurt its reputation for quality.
Other figures suggest the export boom has yet to aid workers and families. The nation's unemployment rate rose to 5.1 percent and household spending retreated.
Deflation continued to deepen as core consumer prices fell 1.5 percent from a year earlier.
The outlook for Japan's factories appears weak as production is expected to decelerate in the next two months. The ministry's poll of manufacturers forecasts production to rise 0.4 percent in May and 0.3 percent in June.
Economists say the likely slowdown is inevitable.
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