Japan's May factory output growth lagged forecasts
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Honda Motor Co.'s scooters are seen in front of an assembly line at Honda's Kumamoto factory in Ozu town, Kumamoto prefecture, Japan, September 13, 2016. REUTERS/Naomi Tajitsu/File Photo GLOBAL BUSINESS WEEK AHEAD PACKAGE - SEARCH BUSINE
By Satoshi Sugiyama
TOKYO, June 30 (Reuters) - Japan's factory output rose at a slower-than-expected pace in May from the previous month, government data showed on Tuesday.
Here are a few details.
• Industrial output grew 0.5% in May from the previous month, versus the median market forecast for a 1.1% rise, according to the Ministry of Economy, Trade and Industry. It marked the second month of growth.
• Manufacturers surveyed by the ministry expect seasonally adjusted output to increase 3.7% in June and stay flat in July.
• In May, transport equipment production rose 4.6% month-on-month, while inorganic and organic chemicals output increased 3.7%.
• The indicator will be among factors the Bank of Japan will scrutinise as it decides whether to raise interest rates in the future.
(Reporting by Satoshi SugiyamaEditing by Chang-Ran Kim and Shri Navaratnam)
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