Japan’s industrial output recovers in April
Pace of production growth also accelerated, though Japanese manufacturers warned of another decline for May
A reading from Japan’s Ministry of Economy, Trade and Industry showed industrial production grew 4% month on month in April, after a 1.9% fall in March, reports the Financial Times. The number slightly missed expectations of a 4.3% rise from economists polled by Reuters.
Pace of production growth accelerated to 5.7%, following a dip to 3.5% in March. The improvement was driven by transport equipment, machinery and electronic devices and components.
A survey from the ministry, though, warned of slowing growth, with Japanese manufacturers expecting another drop in production of 2.5% for May, followed by another pick up of 1.8% in June.