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MNI BRIEF: Auto Rebound Lifts Japan Nov Industrial Production

TOKYO (MNI)

Japan's industrial output posted the second straight m/m rise in November, showing that automobile production continued recovering from a decline caused by the shortage of auto-parts, preliminary data on Tuesday from the Ministry of Economy, Trade and Industry showed.

METI upgraded its assessment, saying that industrial production showed signs of recovering as November output rose 7.2% m/m with plastic products as well as iron, steel and nonferrous metals also contributing.

Based on its survey of manufacturers, METI projected that industrial production would rise 1.6% on month in December. a downward revision from last month) and gain a further 5.0% in January. Adjusting the upward bias in output plans, METI forecast production would fall 1.3% on month in December. Based on this assumption, production would rise 1.1% on quarter in October-December, the first rise in two quarters, following -3.7% in Q3.

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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