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MNI BRIEF: Japan October Industrial Output Posts Gain On Autos

TOKYO (MNI)

Japan's industrial output posted the first m/m rise in four months, up 1.1% in October, showing that automobile production is gradually recovering from a decline caused by the shortage of auto-parts, preliminary data released Tuesday by the Ministry of Economy, Trade and Industry showed.

The October increase was due mainly to higher production of automobiles, +15.4%, for the first increase in four months.

Based on its survey of manufacturers, METI projected that industrial production would rise 9.0% on month in November. Adjusting the upward bias in output plans, METI forecast production would rise just 4.2% on month in November. Based on this assumption, production would fall 0.4% on quarter in October-December, the second straight drop 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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