Japan’s May industrial output up 5.9 per cent
29 Jun 2009
Japan's industrial output rose for the third straight month in May to 5.9 per cent from the previous month, the ministry of economy, trade and industry said today.
Analysts had expected better figures and had forecast seasonally adjusted growth of about 6.7 to 6.9 per cent. However, the May out put has touched the biggest rise in 56 years.
Japan is showing "signs of an upward movement." the ministry of economy, trade and industry said as manufacturers increased production in May, expecting demand to recover.
The mines and factories output index stood at 79.2, as against the base of 100 for 2005, said the ministry of economy, trade and industry in its preliminary report.
The index of industrial shipments increased 4.5 per cent to 78.7, while that of industrial inventories was down 0.6 per cent to 96.5.
Inventory in May fell 0.6 per cent from the previous month in the fifth straight month of decline, said the report.