Japan Factory Output Rises 0.5% in May, Missing 1.1% Forecast
Updated
Updated · The Business Times · Jun 30
Japan Factory Output Rises 0.5% in May, Missing 1.1% Forecast
3 articles · Updated · The Business Times · Jun 30
Summary
Japan’s industrial output rose 0.5% in May from April, undershooting the median market forecast for a 1.1% gain despite marking a second straight monthly increase.
Transport equipment led the advance with a 4.6% month-on-month rise, while inorganic and organic chemicals output increased 3.7%, helping keep overall production in positive territory.
Manufacturers surveyed by the trade ministry expect seasonally adjusted output to jump 3.7% in June before flattening in July.
The May reading adds to the data the Bank of Japan is weighing as it assesses whether economic conditions support further interest-rate increases.