Japan’s industrial output grows 2.8% in July

Japan’s industrial output rebounded 2.8 per cent in July, marking a significant reversal from the revised 4.2 per cent decline in June, as per a preliminary data from the Ministry of Economy, Trade and Industry.

The seasonally-adjusted production index for factories and mines stood at 102.8 in July. The increase was primarily driven by growth in the semiconductor equipment and electrical devices sectors.

Industrial shipments also rose by 2.4 per cent to 101.4. Inventories edged up slightly by 0.4 per cent to 103.

Overall, 14 of the 15 surveyed sectors reported a month-on-month increase in output. Electronics and telecommunications led the expansion.

The ministry revised its assessment, stating that industrial production was showing indecisive fluctuations. A survey of manufacturers indicates that output is expected to increase in August but decline in September.

Attribution: Xinhua

Subediting: M. S. Salama