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Japan industrial output rises at fastest pace in Nov

Production at manufacturers is expected to increase 1.6 percent in December and 5.0 percent in January, the ministry said. (Shutterstock)
Production at manufacturers is expected to increase 1.6 percent in December and 5.0 percent in January, the ministry said. (Shutterstock)
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28 Dec 2021 03:12:12 GMT9
28 Dec 2021 03:12:12 GMT9

TOKYO: Japan’s industrial production rose at its fastest pace in November on a sharp recovery in vehicle output, the industry ministry said in a preliminary report Tuesday.

The seasonally adjusted production index for the manufacturing and mining sectors rose 7.2 percent from the previous month to 97.7 against the 2015 base of 100, the biggest increase since the ministry started compiling data under the current method in January 2013.

Vehicle production grew sharply as pandemic-induced shortages of auto parts supply from Southeast Asia eased.

“Industrial production shows signs of an upward movement,” the ministry said, upgrading its assessment for the first time since August 2020. Last month, the ministry said induction production is “pausing.”

Production grew in 11 of the 15 sectors surveyed.

Automobile production shot up 43.1 percent. Plastic products output expanded 9.5 percent as demand grew for plastic films used in food packaging for convenience stores and supermarkets.

The shipment index climbed 7.4 percent to 95.3 as 14 sectors marked increases. The inventory index rose 1.7 percent to 100.4 due to rises in seven sectors.

Production at manufacturers is expected to increase 1.6 percent in December and 5.0 percent in January, the ministry said.

But production in December has a downward risk, a ministry official said, citing the possible economic impact of the omicron coronavirus variant as well as a fall in automobile production due to parts shortages.

JIJI Press

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