Japan's factory output edges up in Feb

Japan's industrial production increased a seasonally adjusted 0.4 percent in February from a month earlier, marking the fourth consecutive month of growth, the Ministry of Economy, Trade and Industry (METI) said in a preliminary report on Wednesday.


February's figure follows a revised 1.3 percent increase logged in January and beat the median market forecast for a 0.1 percent fall in the recording period.


Industrial shipments rose 1.7 percent from the previous month and inventory and inventory ratio rose 1.5 and 2.2 percent respectively in February from a month earlier, the ministry said.


The government report revealed that industrial production increased 2.8 percent in the recording period year-on-year and that the transport equipment, general machinery and chemical sectors posted particularly strong growth figures.


The government's view of February's factory output was that production continues to show an upward movement as production, shipments and inventory increased and according to the Survey of Production Forecast in Manufacturing, production is expected to increase in March and decrease in April, the government said.


Certain commodities also helped push up the production index including metal oxide semiconductor ICs, large passenger cars and small passenger cars, the ministry noted.


The ministry also said that whilst production is showing some upward momentum and the figures in the recording period were not affected by the March 11 quake and tsunami, it would be necessary to keep watch on the impact of the Tohoku-Pacific Ocean Earthquake on the levels of factory output.
(Source:http://news.xinhuanet.com)