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1st LD Writethru: Japan's industrial output up 1.0 pct in April

Xinhua, May 29, 2015 Adjust font size:

Japan's industrial production rose a seasonally adjusted 1.0 percent in April from the previous month, marking the first increase in output in three months, as growing demand from U.S. and European markets saw orders swell, the Economy, Trade and Industry Ministry said in a preliminary report Friday.

The rise of factory output in the recording period came in ahead of median economists' expectations for a 0.8 percent increase, with ministry saying it now expects industrial production here to log rises of 0.5 percent in May, although will likely retreat 0.5 percent in June.

"The 1.0 percent month-on-month rise in industrial output last month was in line with expectations, but well below some predictions of a 2.1 percent month-on-month rise. What's more, it barely reversed the 0.8 percent month-on-month drop in March, let alone the 3.1 percent month-on-month plunge in February," one market analysts was quoted as saying.

"Firms' are predicting output to edge up by another 0.5 percent month-on-month in May before dipping by 0.5 percent month-on-month in June. However, these forecasts tend to be too optimistic, and even if they were realized, industrial production would still have declined by around 0.5 percent on quarter, this quarter, consistent with a small drop in GDP," the analyst said.

According to the ministry's preliminary report, the index of output at factories and mines stood at 99.1 against the base of 100 in 2010 and by sector, the index of industrial shipments gained 0.4 percent to 97.7, while that of inventories was unchanged at 113.4, according to the report.

The electronic parts and devices sector saw manufacturers' production rise by 5.2 percent owing to a jump in exports of components for smartphones to China, the government report also showed.

The electrical machinery sector also chalked up a notable increase in output, rising 6.4 percent as consumers started snapping up air conditioners ahead of the hot and humid summer, the ministry said.

The index of industrial shipments, according to the latest government data, gained 0.4 percent to 97.7, while that of inventories was unchanged at 113.4, the statistics showed. Endi