Wednesday, 31st August 2011
In Business In Japan,
Japan's industrial output up in July
Industrial output in Japan rose for the fourth consecutive quarter, recording a 0.6 per cent increase in July.
Growth in the Japanese economy has continued since the devastating impact of both the tsunami and earthquake, official figures showed.
However, the Ministry of Economy, Trade and Industry's data revealed that growth had slowed from a 3.8 per cent rise in June and while a 2.8 per cent increase is anticipated for August, output is expected to slump 2.4 per cent in September.
Factors including the strength of the yen as well as global economic instability are thought to be behind the pessimistic prediction for September.
Despite the slight slowdown in July, the ministry maintains that the overall trend is that of recovery and with retail sales up 0.7 per cent in July, there are further signs that the economy is beginning to return to strength.
It is thought that the government's decision to lift the ban on large-scale commercial electricity use will provide a further boost to businesses that have been hindered by power restrictions since the earthquake.
Written by Mark Smith