Japan’s May factory output growth lagged forecasts
Industrial output grew 0.5 per cent, versus the median market forecast for a 1.1 per cent rise
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[TOKYO] Japan’s factory output rose at a slower-than-expected pace in May from the previous month, government data showed on Tuesday (Jun 30).
Industrial output grew 0.5 per cent in May from the previous month, versus the median market forecast for a 1.1 per cent rise, according to the Ministry of Economy, Trade and Industry. It marked the second month of growth.
Manufacturers surveyed by the ministry expect seasonally adjusted output to increase 3.7 per cent in June and stay flat in July.
In May, transport equipment production rose 4.6 per cent month-on-month, while inorganic and organic chemicals output increased 3.7 per cent.
The indicator will be among factors the Bank of Japan will scrutinise as it decides whether to raise interest rates in the future. REUTERS
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