Japan’s Industrial Output Up 1.4 Pct in Oct.

Tokyo, Nov. 28 (Jiji Press)–Japan’s industrial production in October increased 1.4 pct from a month earlier, the Ministry of Economy, Trade and Industry said Friday. The result came against the median forecast of a 0.6 pct fall in a Jiji Press poll of 16 economic research institutes. Their estimates ranged from a drop of 1.3 pct to a rise of 0.3 pct. The seasonally adjusted production index for the manufacturing and mining sectors came to 104.6 against the 2020 base of 100. The ministry maintained its basic assessment that industrial production is fluctuating. Production rose in 10 of the 15 surveyed industries, including the automobile sector, as well as the electrical machinery and information and communication electronics equipment sector. The automobile industry enjoyed a 6.6 pct rise, reflecting increased exports of passenger vehicles to the United States and higher production of new minivehicle models. Meanwhile, production fell in the remaining five industries, with semiconductor memory chips showing a marked decline. The shipments index climbed 1.3 pct, up for the third straight month, and the inventory index rose 0.6 pct. Production is expected to decline 1.2 pct in November and 2.0 pct in December. “Uncertainties about the outlook are affecting production forecasts,” a ministry official said, referring to U.S. tariff policy measures and weakening domestic demand caused by rising prices. END [Copyright The Jiji Press, Ltd.]