Japan Industrial Production Falls 0.5 Pct in March

Tokyo, April 30 (Jiji Press)–Industrial production in Japan dropped 0.5 pct in March from the previous month after seasonal adjustment as chemical makers’ output fell because of a shortage of naphtha amid Middle East tensions, the industry ministry said Thursday. The production index for the mining and manufacturing sectors stood at 101.9 against the 2020 of 100, declining for two consecutive months, the ministry said in a preliminary report. “Industrial Production fluctuates indecisively,” the ministry said, keeping its assessment unchanged. Production fell in eight of the 15 industries surveyed. Output of polyethylene and synthetic rubber, both of which are made from naphtha, plunged 29.8 pct and 13.8 pct, respectively. Gasoline and gas oil production also decreased. Six industries posted higher production, led by robust exports of aircraft engines. The shipment index fell 1.1 pct, while the inventory index dropped 1.5 pct. Shipments and inventories of some products fell due to lower naphtha imports, but are “unlikely to continue to decrease at the current pace,” a ministry official said. Production in the manufacturing sector is expected to rise 2.1 pct in April and 2.2 pct in May. END [Copyright The Jiji Press, Ltd.]