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TOKYO/WAM
Japan’s industrial output in July grew 2.8 percent from the previous month as production of semiconductor equipment and electrical devices was boosted by overseas and data centre demand, government data showed on Friday.
Japanese news agency Kyodo News reported that the seasonally adjusted index of production at factories and mines was 102.8 against the 2020 base of 100, according to a preliminary report from the Ministry of Economy, Trade and Industry. It followed a downwardly revised 4.2 percent decrease in June.
The ministry upgraded its basic assessment of production for the first time in 16 months, saying it was “fluctuating indecisively.” In its evaluations from January through June, the ministry had maintained the same assessment while adding that output also “showed weakness.”
A ministry official cited progress in inventory adjustments and positive outlooks from businesses.