Japan factory output up 0.8% month-on-month in June
[TOKYO] Japan's factory output increased a greater-than-expected 0.8 per cent month-on-month in June, reversing a drop in the previous month, official data showed on Thursday.
The reading from the industry ministry was better than the median forecast for an increase of 0.3 per cent in a survey of economists carried out by Bloomberg News.
In May, industrial production fell 2.1 per cent compared to April.
The industry ministry also said Thursday a survey of manufacturers' output projections showed expected growth by 0.5 per cent in July and another 2.7 per cent in August.
A sales tax hike last year hammered consumer spending and briefly sent the economy into recession, but Japan crept out of contraction in the last quarter of 2014.
AFP
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Sri Lanka’s economy expected to grow 3% in 2024, central bank says
Yellen says US can bring inflation down without hurting jobs
US dollar briefly falls versus yen after GDP data
US weekly jobless claims unexpectedly fall
US economic growth slows more than expected in Q1
Malaysia ex-PM Mahathir facing anti-graft probe in a case involving his sons