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Sat, Jun 13, 2009 - Page 10 News List

Japan’s output rose 5.9 percent in April

AFP , TOKYO

Japan’s factory output rose 5.9 percent in April from the previous month, revised data showed yesterday, boosting hopes Asia’s biggest economy is emerging from its worst post-World War II slump.

The government last month estimated that production rose 5.2 percent in April, the fastest monthly pace in more than half a century as output of electronic parts and chemicals picked up after a long decline.

The revised reading helped boost the Nikkei benchmark stock index above 10,000 for the first time in eight months.

Compared with a year earlier, industrial production was still down 30.7 percent as a result of the global downturn, which has hit the export-led economy by reducing demand for its cars, electronics and other goods.

The production index rose for a second consecutive month and the trade and industry ministry said that “factory output is seen to be recovering overall.”

Revised figures showed April shipments rose 3 percent month-on-month. The new data left a 2.7 percent fall in inventory stockpiles unchanged. Production is expected to have surged 8.8 percent last month from April and 2.7 percent this month, the manufacturers’ own forecasts showed.

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