Japan’s industrial production rose at its fastest pace since the beginning of the year in September, data showed on Wednesday. Industrial production rose 2.7 percent on month, above expectations for a 2.2 percent rise and up from a 1.9 percent decline in August, marking the fastest expansion since January.
Following the release the Japanese government said that industrial production is “seesawing.” “[This trend of seesawing] is clearly what we see, but today’s data is strong… Overall on a month-on-month basis, retailers and producers are up. We’re seeing now that production is picking up as well,” said Martin Schulz, Senior Economist at Fujitsu Research Institute.
“What we also see is companies have become more optimistic for the overall outlook, but what we need is a little bit more hard data on it,” he said.
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