Factory output in Japan rises 2 percent

Factory output in Japan rises 2 percent

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In May 2013, Japan-based factories have displayed surprising output, with strong performances and the biggest growth since December 2011. The reports were revealed on June 28, 2013 and they proved to be good news for the economy of Japan.

Factory output in Japan rises 2 percent

According to the latest figures, industrial growth in the country has gone up 2.0 percent in May 2013, compared to the previous month. The recent development has proved to be a good sign for the trade picture of Japan, as exports are rising on booming business with the United States. Even the markets have been expecting a rise in the monthly factory output.

Yasuo Yamamoto, senior economist at Mizuho Research Institute, said, ?Broadly speaking, I believe this indicates a gradual recovery. But this month?s gains could be attributed to production of large machinery like turbines and boilers. So it could represent mainly temporary factors.?

In the meantime, the seasonally adjusted index of output at factories and mines was kept at 97.8 against the base of 100 for 2010. The base year of METI was changed from 2005, when it released its revised report for April 2013. More figures were also published on Friday, June 28, 2013, which showcased a more mixed picture of the economy which is still struggling.