Japan's September industrial output rises 2.2% on month
Japan's industrial output in September rose 2.2 percent from the previous month, the first increase in three months, driven by solid machinery production, government data showed Friday, Kyodo reports.
The September result marked a turnaround from a downwardly revised 1.5 percent decline in August. But the Ministry of Economy, Trade and Industry maintained its basic assessment of industrial production from the month before, saying it "fluctuates indecisively.
The seasonally adjusted index of production at factories and mines stood at 102.8 against the 2020 base of 100, according to the ministry's preliminary report.
Thirteen sectors, such as metal products as well as inorganic and organic chemicals, saw output increases, while two - transport equipment, excluding motor vehicles, and steel and non-ferrous metals - logged decreases.
Based on a poll of manufacturers, the ministry expects output to grow 1.9 percent in October and shrink 0.9 percent in November.
In September, the index of industrial shipments grew 0.7 percent to 100.2, and that of inventories was up 0.5 percent at 99.6.
As reported previously, the United States and Japan have announced a new joint framework to strengthen the security and resilience of supply chains for critical minerals and rare earth elements.