Friday, March 30, 2012

Japan factory output falls 1.2% in February

TOKYO: Japan's industrial production in February fell by 1.2 percent from the previous month, despite market expectations for a 1.3 percent rise, government data showed Friday.

Falling output of automobiles and semiconductor production equipment led to the decline, according to the industry ministry.

The unexpected drop comes after government officials said the moribund Japanese economy was showing signs of picking up, with the country's January industrial production increasing by a revised 1.9 percent.

But the economy, trade and industry ministry added Friday that a survey of firms showed an expected 2.6 percent rise in March and another increase of 0.7 percent in April.

"Industrial production continues to show an upward movement," the ministry said in a statement.

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Source From Channel News Asia

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