Chips, electronic devices boost Japan�s factory output

AFP, TOKYO: Japan’s factory output expanded again in October, data showed yesterday, boosted by production of memory chips and electronic devices, in a rare bright spot for the recession-hit economy.
Economists were generally upbeat on the 1.4 per cent expansion in activity—the second consecutive monthly rise—and said it signalled Japan’s second recession in as many years would likely be short lived.
“The second straight rise in industrial production indicates that the economy returned to growth this quarter,” research house Capital Economics said in a commentary.
Retail sales data were also stronger than expected, offering a glimmer of hope after Tokyo on Friday published a string of mostly weak data—the first major figures since news that the world’s number three economy had slipped back into recession.
A key inflation gauge showed prices fell in October from a year ago, while spending by households also dropped in a double blow for Prime Minister Shinzo Abe’s high-profile growth blitz, dubbed Abenomics.

Chips, electronic devices boost Japan�s factory output

AFP, TOKYO: Japans factory output expanded again in October, data showed yesterday, boosted by production of memory chips and electronic devices, in a rare bright spot for the recession-hit economy. Economists were generally upbeat on the 1.4 per cent expansion in activitythe second consecutive monthly riseand said it signalled Japans second recession in as many years would likely be short lived. The second straight rise in industrial production indicates that the economy returned to growth this quarter, research house Capital Economics said in a commentary. Retail sales data were also stronger than expected, offering a glimmer of hope after Tokyo on Friday published a string of mostly weak datathe first major figures since news that the worlds number three economy had slipped back into recession. A key inflation gauge showed prices fell in October from a year ago, while spending by households also dropped in a double blow for Prime Minister Shinzo Abes high-profile growth blitz, dubbed Abenomics.