Japan is seeing growth in its factory activity.
The Economy Ministry says industrial production was up 3.7 percent in January from the previous month. It is the first increase in 3 months after a decline of 1.7 percent in December.
Ministry officials said on Monday that output rose in 12 of the 15 reporting sectors. Production of chip-making machinery was ramped up for exports to Taiwan, South Korea and other countries. Auto production also rose.
Looking ahead, officials are predicting a 5.2 percent drop for February and a rise of 3.1 percent in March. They are maintaining their basic view that industrial production is “fluctuating indecisively.”
Officials said they are especially concerned about the impact of China’s economic slowdown. They said it has already caused a year-on-year decline in the output of smartphone components.
Source and image: NHK