Japan’s industrial production up in October

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Japan’s industrial production climbed 1.4 per cent in October from the previous month for the second straight month of rise, the government said Monday, as the world’s third-largest economy struggles to pull out of a second recession in two years.

The figure, which was below the 1.9-per-cent increase forecast by analysts surveyed by the Nikkei business daily, followed a 1.1-per-cent rise in September.

The index of production at factories and mines stood at 98.8 against a 2010 baseline of 100, said the Ministry of Economy, Trade and Industry.

Transport equipment, electronic parts and devices, and general-purpose, production and business oriented machinery industries contributed to the bulk of the rise in October, the ministry added.

Manufacturers expect industrial production to edge up 0.2 per cent in November and to fall 0.9 per cent in December, the ministry’s survey showed.

The index of industrial shipments climbed 2.1 per cent in October from the previous month to 98.8, and that of industrial inventories fell 1.9 per cent to 111.4.

Japan slipped back into technical recession earlier this year for the second time since Prime Minister Shinzo Abe took office. It had two quarters of negative growth in April-September 2014 following a controversial hike in sales tax.

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