TOKYO, Oct. 29 (UPI) — Japan’s industrial output in September rose 1.5 percent from August, driven by production growth in autos and electronic items, the government said Wednesday.
The September increase, up 5.4 percent year-on-year, was yet another indication of Japan’s economic recovery after 15 years of deflation. Japan is the world’s third largest economy after the United States and China.
The latest result was even more encouraging as figures for August showed a 0.9 percent decline.
“Industrial Production continues to show an upward movement,” the Ministry of Economy, Trade and Industry Ministry said on its web site. “Production and shipments increased, inventories and inventory ratio decreased.”
The ministry said industries contributing to the September increase included transport equipment, electronic parts and devices, and information and communication electronics equipment.
In its forecast, the ministry said its survey of manufacturers showed production is expected to increase 4.7 percent in October and decrease 1.2 percent in November.