Japan’s industrial output in August grew 2.7 percent from the previous month for a third consecutive monthly increase, as production recovered to pre-pandemic levels amid an easing of material shortages, government data showed.
The seasonally adjusted index of production at factories and mines stood at 99.5 against the 2015 base of 100, the government said in a preliminary report, upgrading its basic assessment to describe output as “showing signs of picking up moderately” after saying it was “fluctuating indecisively” in the previous month.
The index surpassed 99.1 registered in January 2020, the month before the coronavirus began to affect industrial output, indicating that production activities have recovered to pre-pandemic levels, a government official said.
The expansion followed a downwardly revised increase of 0.8 percent in July, as the lifting of China’s COVID-19 lockdowns in June helped ease parts shortages that had slowed industrial output.
Of the 15 industries covered by the survey, 10 logged output increases and five showed declines, according to the Ministry of Economy, Trade and Industry.
By sector, the production machinery industry saw the biggest increase of 6.1 percent from the previous month, led by semiconductor manufacturing devices and flat panel display producing equipment, the ministry said.
Other industries reporting output rises included iron, steel and non-ferrous metals, up 3.6 percent, and chemicals excluding inorganic, organic chemicals and medicine, up 2.7 percent.
Among industries seeing output declines, electronic parts and devices, including memory chips, dropped 6.3 percent. Motor vehicles fell 1.1 percent, and inorganic and organic chemicals decreased 1.6 percent.
The index of industrial shipments rose 1.9 percent to 96.6, up for the third straight month, and that of inventories increased 1.4 percent to 101.6, also up for the third consecutive month.
Based on a poll of manufacturers, the ministry expects industrial output to grow 2.9 percent in September led by electrical machinery, and information and communication electronics equipment, and rise 3.2 percent in October led by transport equipment excluding motor vehicles, among other sectors.
https://mainichi.jp/english/articles/20220930/p2g/00m/0bu/018000c
Category: Japan
