Japan’s factory output rose at a slower-than-expected pace in May, with a 0.5% increase from the previous month, according to government data.
Details
The Ministry of Economy, Trade and Industry reported that industrial output grew 0.5% in May, versus the median market forecast for a 1.1% rise. This marked the second month of growth.
Manufacturers surveyed by the ministry expect seasonally adjusted output to increase 3.7% in June and stay flat in July. In May, transport equipment production rose 4.6% month-on-month, while inorganic and organic chemicals output increased 3.7%.
The indicator will be among factors the Bank of Japan will scrutinize as it decides whether to raise interest rates in the future.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
