Japan industrial output grows to 2.7pc in December


FE Team | Published: January 31, 2018 15:23:22 | Updated: February 02, 2018 09:57:22


Representational image (Collected)

Japan’s industrial output grew in December at the fastest pace in eight months, in a sign that its humming factories have likely driven economic expansion for an eighth consecutive quarter.

Trade ministry data out on Wednesday showed factory output grew 2.7 per cent in December from the previous month, up for a third straight month.

The industrial output grew beating the economists’ median estimate of a 1.6 per cent growth, following a 0.5 per cent gain in November, reports Reuters.

The gain was led by transport equipment, and general-purpose, production and business-oriented machinery.

Manufacturers surveyed by the Ministry of Economy, Trade and Industry (METI) expect output to fall 4.3 per cent in January and increase 5.7 per cent in February.

For October-December, factory output grew 1.8 per cent from the previous three months, up for a seventh straight quarter, pointing to a solid growth in gross domestic product in the same quarter.

Japan’s economy has been in its best shape in years over the past year, with gross domestic product expanding for the seventh straight quarter through last September.

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