Japan Industrial Production Up Unexpectedly In October



Preliminary estimates released by Japan's Ministry of Economy, Trade and Industry on Friday showed that industrial production in Japan unexpectedly rose in October. Industrial production rose a seasonally adjusted 0.2 percent month-over-month, belying expectations for a 0.6 percent drop. However, this represented a marked slowdown from the 2.9 percent growth in September. Annually, production was down 1 percent, not as worse as the 1.7 percent drop expected by economists. Shipments were up 0.4 percent month-over-month but declined 0.6 percent annually. The Ministry's forecast based on a survey of manufacturers pitches industrial production growth at 2.3 percent in November and at 0.4 percent in December.

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