Reported 5 months ago
Japan's government upgraded its assessment of factory output in its monthly economic report, signaling a potential bottoming out of production and showing signs of picking up for the first time in a year. The report also upgraded its assessment of imports and public works, while maintaining an unchanged overall economic assessment for a third consecutive month. Despite no revisions to private consumption and capital expenditure, the report highlighted a moderate recovery pace in the Japanese economy, although recent data suggests a pause. Industrial production is seen improving, with recent movements indicating a pickup, particularly following setbacks like the Toyota Daihatsu scandal and earthquakes impacting factory activity. The change in the assessment on industrial output suggests that temporary hindrances to factory activity have likely eased, with analysts expecting a moderate rebound in the economy this quarter following a 2% contraction in the first quarter.
Source: YAHOO