Thursday July 30, 04:43 AM
Japanese industrial output up 2.4 percent in June
TOKYO (AFP) - Japan's industrial output rose 2.4 percent in June from the previous month, official data showed Thursday.
The reading, which represents growth for the fourth consecutive month, was roughly in line with average market expectations for an increase of 2.5 percent.
"Production is recovering as a whole," the Ministry of Economy, Trade and Industry said in a preliminary report.
Production was largely boosted by higher output of electronic components and devices, steel products and chemicals, it said.
The June growth was lower than a revised rise of 5.7 percent in May. Compared with a year earlier, production was still down 23.4 percent.
June shipments rose 3.5 percent from May while inventory stockpiles fell 1.0 percent.
Production is expected to rise by 1.6 percent in July and by another 3.3 percent in August, according to the manufacturers' own forecasts, the ministry said.
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