Japan's Industrial Output Rises 6.2 Pct On Month In June
Fahad Shabbir (@FahadShabbir) Published July 30, 2021 | 12:37 PM
The Japanese government's data showed Friday that industrial output rose 6.2 percent in June from the earlier month, exceeding the level before the COVID-19 pandemic, encouraged by a pickup in production of autos and semiconductor-making equipment, local media reported
TOKYO, (UrduPoint / Pakistan Point News - 30th Jul, 2021 ) :The Japanese government's data showed Friday that industrial output rose 6.2 percent in June from the earlier month, exceeding the level before the COVID-19 pandemic, encouraged by a pickup in production of autos and semiconductor-making equipment, local media reported.
The Ministry of Economy, Trade and Industry in a preliminary report said the seasonally adjusted index of production at factories and mines reached 99.3 against the 2015 base of 100, surpassing the 99.1 posted in January 2020 and topping the figure for the second time since April this year.
The figures followed a downwardly revised 6.5 percent drop in May.
In the reported month, production in the auto industry including vehicles, steering devices and engines surged 22.6 percent from the previous month, contributing the most to the index's rise.
"Although the global chip shortage continues to weigh, automakers and related manufacturers increased their production to address a sharp rise in demand," a ministry official said, following a slip of 19.
4 percent in the sector's May factory activity.
An 8.9 percent rise in production machinery on the back of expansion in demand for chip-making equipment also helped lift the output index as a whole.
The ministry maintained the estimate, saying industrial output is "picking up." Meanwhile, the production of transportation equipment except motor vehicles decreased 7.2 percent in the month.
The index of industrial shipments went up 4.3 percent to 96.3 while that of inventories climbed 2.3 percent at 95.9.
On the base of a poll of manufacturers, the ministry forecasts output will decline 1.1 percent in July and rise 1.7 percent in August.
"Although there are ups and downs, it is expected that the uptrend will continue," the official said.
But the official also pointed to downside risks resulting from the impact of the spread of highly contagious new COVID-19 variants in Japan and abroad as well as the long-time shortage of semiconductors on auto production.
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