Tuesday, 1st March 2011
In General Japan News,
Japan's industrial output rises
Japan's industrial output has increased for the third-month running although the level was below market forecasts.
The country's economy, trade and industry revealed that factory production rose by 2.4 per cent in January as both the auto and semiconductor sectors experienced increased demand.
However, Nikkei Daily had estimated that the increase in production levels for the month would total 3.8 per cent building on December's 3.3 per cent rise.
"The rise was way below expectations, but we don't have to be too pessimistic," said Hiroshi Watanabe, economist at Daiwa Institute of Research.
"The figure was still firm and suggests a stable recovery."
There was also an increase in inventory levels during the first month of the year, with an average rise of 4.7 per cent following a slowdown in electrical goods shipping during the Chinese New Year period.
Meanwhile, data from the ministry of finance revealed that Japan showed a trade deficit of January of 471.4 billion yen for the first time in 22 months.
Written by Mark Smith.