Japan’s industrial production rose a seasonally adjusted 1.7 per cent in April from the previous month for the fifth straight month of increase, the Government said today.
The figure, which was above the 0.5 per cent rise predicted by analysts surveyed by the Nikkei business daily, followed a 1.2 per cent increase in March.
The Ministry of Economy, Trade and Industry maintained its basic assessment, saying “industrial production shows signs of picking up at a moderate pace.” The index of production at factories and mines stood at 91.9 against a baseline of 100 for 2005, the Ministry said.
Manufacturers surveyed by the Ministry expected industrial output to be unchanged in May and fall 1.4 per cent in June, the Ministry said.
Transport equipment, precision instruments and electronic parts and devices industries contributed to the bulk of the increase in April, the ministry said.
Japanese exporters can take advantage of a weaker yen as the depreciation of the currency makes Japanese goods more competitive abroad and improves repatriated revenues.
The yen has dropped 25 per cent against the US dollar since November.
The Ministry also said that the index of industrial shipments climbed 1.1 per cent in April from the previous month to 93.4, and that of industrial inventories was up 0.6 per cent to 103.4.