TOKYO - Japan's factory output rose for the eighth month in October, but not as much as economists were expecting.
Industrial production - a key barometer of the country's economic health - edged up 0.5 per cent from September and "continues to show an upward movement," the government said Monday.
The result missed a 2.5 per cent increase forecast in a Kyodo News agency survey of economists, as well as the government's estimate for a 3.1 per cent gain. Output rose 2.1 per cent in September.
The underwhelming figure suggests that the world's second biggest economy may be losing steam as the impact of stimulus measures fades and amid growing concerns about deflation and a strong yen.
Production is expected to continue expanding in the months ahead, according to the Ministry of Economy, Trade and Industry. It projects factory output to rise 3.3 per cent in November and 1 per cent in December.
The latest figure stems from companies making general machinery, fabricated metals and information electronics equipment, the ministry said.
Shipments rose 1.3 per cent, while inventories fell 1.5 per cent.
Japan industrial production up 0.5 per cent in October, misses expectations
- Published on November 30th, 2009
- Published on Febuary 20th, 2010
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The Associated Press
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