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REPEAT: MNI: Japan Oct Factory Output Rise Supports BOJ View

MNI (London)
Repeats Story Initially Transmitted at 00:12 GMT Nov 30/19:12 EST Nov 29
     TOKYO (MNI) - Japan's industrial production posted the first month-on-month
rise in two months in October, supporting the Bank of Japan view that production
is returning to a moderate recovery path after the weak third quarter.
     However, BOJ officials are reserving their optimism over the outlook for
industrial production, as they remain focused on quarter-on-quarter moves to
examine the underlying trend.
     Production in October rose 2.9% from September for the first month-on-month
rise in two months and follows a 0.4% fall in September, according to
preliminary data released Friday by the Ministry of Economy, Trade and Industry
(METI).
     The increase was led by general-purpose, production and business oriented
machinery, electronic parts and devices, and motor vehicles.
     METI upgraded its assessment from the previous month, saying, "production
is picking up moderately." The previous assessment was "While production is
picking up moderately, there are signs of weaknesses in some areas."
     The BOJ will likely maintain the view "industrial production has been on an
increasing trend" at the December 19-20 policy meeting, with officials focused
on how overseas demand for capital investment remains solid, which in turn will
support Japan's exports of capital goods excluding transportation equipment.
--MNI Tokyo Bureau; tel: +81 90-2175-0040; email: hiroshi.inoue@marketnews.com
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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