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Japan's factory output grows more than expected

Industrial production in Japan rises by 2.8% month-on-month in May

Japan's factory output grows more than expected
2024-06-28 11:01:58

ANKARA

Japan's industrial production increased 2.8% from a month earlier in May, beating economists' expectation of 2%, according to data released Friday.

The figure shifted from a 0.9% monthly decline in April, the Economy, Trade and Industry Ministry data showed.

The hike was led by a strong rebound in motor vehicles production with 18.1% in May, compared to the previous month's 0.6% decrease.

Electrical machinery, and information and communication electronics equipment increased by 5.1% in the same period.

On a year-on-year basis, industrial production rose 0.3% in May, the first rise in seven months.

Meanwhile, headline inflation for the capital city of Tokyo accelerated to 2.3% in June, up from 2.2% in May. The core inflation rate - which excludes fresh food - went up to 2.1% from 1.9% in the prior month.