Japan's Oct. industrial output rises 1.1% on month
The seasonally adjusted index of production at factories and mines stood at 90.5 against the 2015 base of 100, the Ministry of Economy, Trade and Industry said in a preliminary report.
The ministry, however, retained its basic assessment since August that industrial production "is pausing."
Among the eight industries marking month-on-month growth, production rose 15.4 percent for automobiles and 4.2 percent for production machinery including semiconductor manufacturing equipment.
"Due to an easing of materials and parts shortages, output in October turned upward," a METI official said.
Among the six industries logging a decrease in production, inorganic and organic chemicals posted a 3.3 percent contraction.
Looking ahead, METI expects output to grow 9.0 percent in November and 2.1 percent in December, citing a poll of manufacturers.
The official also said the Omicron variant of the coronavirus seems to have had no impact on production so far but that it is unclear how it will affect output in December and beyond. Read More…
