Japan's industrial production rises 5.7% in May
2011-06-29 14:25:54
Japan's industrial production jumped 5.7 per cent in May from the previous month, reflecting a steady recovery in earthquake-hit supply chains following the March 11 quake and tsunami.
The level beat the market expectation for a 5.5-per cent increase and followed a revised 1.6-per cent monthly rise in April.
"Industrial production is on a recovery trend after the Great East Japan Earthquake," the industry ministry said in a statement, referring to the tremor that caused a tsunami that also crippled a nuclear power plant.
The ministry said prospects for Japanese output were brightening. This is a more
optimistic assessment than a month ago, when it said output was "expected to recover gradually".
The ministry expected continued production increases, forecasting a 5.3 per cent rise for June and 0.5 per cent in July.
Meanwhile, shipments in May jumped 5.3 per cent, rising for the first time in three months. Inventories rose 5.1 per cent, marking a second straight monthly increase.