Japan's industrial output surges record 8.0 pct in July
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Japan's industrial output in July surged a record 8.0 percent from a month earlier as a rebound in demand saw the production of automobile and related parts continue to increase after being severely hampered by the coronavirus pandemic, the government said in a report on Monday.

According to the Ministry of Economy, Trade and Industry, the seasonally adjusted index of production at factories and mines stood at 86.6 against the 2015 base of 100, in the recording period, with the increase marking the highest since comparable data became available in January 2013.

The ministry's preliminary data also showed that industrial production here had risen for a second successive month and came on the heels of a downwardly revised 1.9 percent increase logged in June.

Industrial output "shows picking-up movement," the ministry said in giving its assessment, compared to last month's view that output "has bottomed out and shows picking-up movement."

In the auto industry, production leapt 38.5 percent in the recording period from the previous month, the ministry said, contributing most to the overall index as demand increased and pandemic-hit supply chains recovered.

The index of industrial shipments increased 6.0 percent to 85.3, the ministry said, while inventories dropped 1.6 percent to 99.2 in the recording period.

The ministry said it expects output to increase 4.0 percent in August and rise 1.9 percent in September, based on a survey it conducted on manufacturers.

Source: Xinhua
2020-09-01

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