Monday, 30th November 2009
In Business In Japan,
Japan output up, but less than expected
Levels of production in Japan rose in October, new figures have shown, but the increase was less than some analysts expected.
October was the eighth month in a row in which Japanese industrial production has risen but the rise of 0.5 per cent was far lower than the 2.5 per cent which was predicted by some market analysts.
Back in September, production levels rose by 2.1 per cent, according to the Ministry of Economy, Trade and Industry.
Business Week noted that the "underwhelming" October figures showed that "the world's second biggest economy may be losing steam as stimulus spending tapers off".
Speaking to the Wall Street Journal, Mizuho Research Institute economist Hirokata Kusaba said that weakened demand from China for products such as steel have contributed to the disappointing increase.
Prices fell in Japan last month - the eighth month in a row of drops - as the country continues to struggle with deflation.
Written by Kimberley Homer.