The FINANCIAL — Japanese industrial output rose a seasonally adjusted 2.4% in January from the previous month, as the transportation equipment and general machinery sectors performed well, while the telecommunications, machinery and chemical sectors showed weakness, the Ministry of Economy, Trade and Industry said on February 28, according to Nikkei.com.
The result was lower than the median forecast for a 3.8% rise in a poll of economists surveyed by Dow Jones and the Nikkei. However, it marked the third straight month of gains, following a 3.3% rise in December.
The continued gains may add to the view that the economy is bouncing back in the current January-March quarter from a lull in the previous period, when gross domestic product contracted an annualized 1.1%. But the weaker-than-expected reading could temper any expectations for stronger gains.
Manufacturers polled by the ministry expect their orders to rise 0.1% in February, and climb 1.9% in March.
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