Japan's Oct. Industrial output falls 2.6% on month
The seasonally adjusted index of production at factories and mines stood at 95.9 against the 2015 base of 100, the Ministry of Economy, Trade and Industry said in a preliminary report, issuing a downgraded assessment that output is «moderately picking up but showing weaknesses in part.»
The decline followed a downwardly revised decrease of 1.7 percent in September.
Of the 15 industries covered by the survey, eight logged output declines and seven showed increases.
Among the eight, the production machinery industry saw the biggest decline of 5.4 percent from the previous month, led by semiconductor manufacturing devices and flat panel display-producing equipment, on weak capital investments overseas, the ministry said.
Electronic parts and devices logged a decrease of 4.1 percent as demand for memory chips for such uses as smartphones and data centers slumped abroad.
The seven industries reporting output rises included auto manufacturing, which saw an increase of 5.6 percent from the previous month led by compact cars, according to the ministry.
The index of industrial shipments decreased 1.1 percent to 94.1, while that of inventories fell 0.8 percent to 103.0.
Based on a poll of manufacturers, the ministry expects industrial output to rise 3.3 percent in November and climb 2.4 percent in December.
«We would like to continue keeping a close eye on the impact of the potential expansion of coronavirus infections, parts supply shortages and price increases,» a ministry official said.
REUTERS/Sakura Murakami/File Photo
