Tokyo, March 30 (IANS) Japan’s industrial production edged up a seasonally adjusted 0.4 per cent in February from the previous month, which marks its fourth-consecutive monthly increase, government authorities said Wednesday.
February’s figure follows a revised 1.3 per cent increase logged in January and beat the median market forecast for a 0.1 per cent fall in the recording period, Xinhua reported.
Industrial shipments rose 1.7 per cent from the previous month and inventory and inventory ratio rose 1.5 and 2.2 per cent respectively in February from a month earlier, the Ministry of Economy, Trade and Industry said in a preliminary report.
The government report states that industrial production increased 2.8 per cent in the recording period year-on-year and that the transport equipment, general machinery and chemical sectors posted particularly strong growth figures.
The government’s view of February’s factory output was that production continues to show an upward movement as production, shipments and inventory increased.
According to the Survey of Production Forecast in Manufacturing, production is expected to increase in March and decrease in April, the government said.
The government also said that whilst production is showing some upward momentum and the figures in the recording period were not affected by the March 11 quake and tsunami, it would be necessary to keep watch on the impact of the Tohoku-Pacific Ocean Earthquake on the levels of factory output.
Some Japanese makers whose plants were damaged or who are working far below optimum capacity due to hampered supply chains, are already preparing to shift equipment and materials to neighbouring countries like South Korea and China, while others are considering building new plants in the country rather than repairing the damage at home, local media reports said.