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Japan's industrial output falls 1.3 pct on month in April

TOKYO
2022-05-31 14:37

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TOKYO, May 31 (Xinhua) -- Japan's industrial output dropped 1.3 percent in April from a month earlier, marking the first decline in three months, due to weak output of electronic components and construction machinery, the government said in a report on Tuesday.

According to the Ministry of Economy, Trade and Industry (METI), the index of production at factories and mines stood at 95.2 against the 2015 base of 100.

The latest reading comes on the heels of a 0.3 percent increase booked in March, the ministry's data showed.

Owing to factory output dropping off for the first time in three months, METI downgraded its basic assessment of industrial production to "is pausing," compared with "showing signs of picking up" in March.

This marked the first time that the ministry downgraded its basic assessment of the country's industrial production in eight months.

A ministry official was quoted as saying that most recently along with a slump in overseas demand due to the pandemic, the production took a hit, whereas it rose in the two months prior owing to an easing of component shortages and an improving COVID-19 situation.

"In April, industrial output decreased due to a decline in overseas demand amid the spread of coronavirus infections," the official said, adding that the industrial production rose in February and March due to the easing of parts shortages and falling COVID-19 cases.

The ministry's latest data showed that production of electronic components tumbled 6.6 percent in the recording period, while construction and production machinery slipped 2.7 percent from a month earlier.

As for the production of automobiles, METI said it skidded down 0.6 percent owing to parts constraints, punctuated by a drop in auto-linked exports to Russia and Ukraine.

As for other components in the reporting month, METI said the index of industrial shipments was flat at 93.3, while that of inventories fell 2.5 percent to 98.4.

Based on a poll of manufacturers, the ministry expects output to grow 4.8 percent in May and climb 8.9 percent in June.
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