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Sat, Jun 13, 2009 - Page 10 News List

Japan’s output rose 5.9 percent in April


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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