Friday June 12, 09:43 AM
Japan factory output rose 5.9 percent in April
TOKYO (AFP) - Japan's factory output rose 5.9 percent in April from the previous month, revised data showed, boosting hopes Asia's biggest economy is emerging from its worst post-World War II slump.
The government last month estimated that production rose 5.2 percent in April, the fastest monthly pace in more than half a century as output of electronic parts and chemicals picked up after a long decline.
The revised reading helped boost the Nikkei (news) benchmark stock index above 10,000 for the first time in eight months.
Compared with a year earlier, industrial production was still down 30.7 percent as a result of the global downturn, which has hit the export-led economy by reducing demand for its cars, electronics and other goods.
The production index rose for a second consecutive month, and the trade and industry ministry said that "factory output is seen to be recovering overall."
Revised figures showed April shipments rose 3.0 percent month-on-month.
The new data left a 2.7 percent fall in inventory stockpiles unchanged.
Production is expected to surge 8.8 percent in May from April and 2.7 percent in June, according to the manufacturers' own forecasts.
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