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MNI BRIEF: Japan March Factory Output Posts 2nd Straight Rise

TOKYO (MNI)

Japan's industrial output rose 0.3% m/m in March for the second straight gain as machinery and chemicals production increased, although automobile production fell, preliminary data released Thursday by the Ministry of Economy, Trade and Industry showed.

Production of automobiles fell 6.0% in March for the first drop in two months. Based on its survey of manufacturers, METI projected that industrial production would rise 5.8% on month in April (revised down from +9.6% forecast last month) and fall 0.8% in May.

Adjusting the upward bias in output plans, METI forecast production would rise 0.8% on month in April. Based on this assumption, and if June output were flat, production would rise 1.1% on quarter in April-June, the third straight rise following +0.8% in Q1.

MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com

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