© Reuters. FILE PHOTO: A worker checks machinery at a factory in Higashiosaka, Japan June 23, 2022. REUTERS/Sakura Murakami/File Photo
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By Satoshi Sugiyama
TOKYO (Reuters) – Japan’s industrial output likely expanded in December thanks to the easing of supply constraints, although the outlook for this month appears to be cloudy amid disruption in automobile production, a Reuters poll showed on Friday.
Industrial production likely grew 2.4% in December from the previous month, according to a median estimate of 17 economists, followed by a 0.9% fall in November.
Transport and general machinery production increased as the supply chain situation improved, economists at SMBC Nikko Securities said.
Output of semiconductor manufacturing equipment also went up, said Naoki Hattori, a senior economist at Mizuho Research and Technologies.
At the same time, economists in the survey predicted the slowdown in overseas economies and production suspension at Toyota Motor (NYSE:TM)’s small-car unit Daihatsu over safety issues could weigh on industrial output going forward.
“We expect a mixed outlook,” said Takeshi Minami, chief economist at Norinchukin Research Institute.
The government will release the December industrial output data at 08:50 a.m. on Jan. 31 (2350 GMT, Jan. 30).
Source: Investing.com
