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Japan in surprise economy boost Japan in surprise economy boost
(about 3 hours later)
Industrial output in Japan rose in March for the first time in six months, according to government figures.Industrial output in Japan rose in March for the first time in six months, according to government figures.
Production rose by 1.6% in March compared with February, after months of dramatic decline.Production rose by 1.6% in March compared with February, after months of dramatic decline.
The larger-than-expected increase is being seen as a sign that the country's plunge in production and exports may be nearing an end.The larger-than-expected increase is being seen as a sign that the country's plunge in production and exports may be nearing an end.
The world's second biggest economy has been hit hard by the global downturn, sliding into a sharp recession.The world's second biggest economy has been hit hard by the global downturn, sliding into a sharp recession.
These are grim times for Japan's economy but the latest figures from the government show a small improvement.These are grim times for Japan's economy but the latest figures from the government show a small improvement.
But the new figures are a sign that the strategy of Japan's manufacturers - to mothball production lines, reduce shifts and lay off staff - may be working.But the new figures are a sign that the strategy of Japan's manufacturers - to mothball production lines, reduce shifts and lay off staff - may be working.
With stockpiles of unsold goods diminishing some factories are starting to come back to life.With stockpiles of unsold goods diminishing some factories are starting to come back to life.
Japan has been hit badly by the downturn because worldwide demand has collapsed for its cars and electronics.Japan has been hit badly by the downturn because worldwide demand has collapsed for its cars and electronics.
The increase follows figures earlier this month showing that exports have also risen slightly, although shipments are still running at just over half the levels of a year ago.The increase follows figures earlier this month showing that exports have also risen slightly, although shipments are still running at just over half the levels of a year ago.
A government survey of manufacturers showed they expect industrial production to continue to rise, by 4.3% during April and by 6.1% in May.A government survey of manufacturers showed they expect industrial production to continue to rise, by 4.3% during April and by 6.1% in May.