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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. |