Tokyo, Dec. 28, (dpa/GNA) – Japan’s industrial production was unchanged in November from the previous month, the government said on Monday.
However, a recent spike of the coronavirus raised further concern about the economic impact of the Covid-19 pandemic.
Monday’s reading was worse than the median forecast of a 1.2-per-cent rise by analysts surveyed by the Nikkei Business Daily, and followed a 4-per-cent increase in October.
Compared with October 2019, industrial production fell 3.4 per cent amid the fallout of the pandemic, the Ministry of Economy, Trade and Industry said.
Manufacturers expect industrial production to decline 1.1 per cent in December and bounce back 7.1 per cent in January, according to a survey conducted by the ministry.
The index of industrial shipments fell 0.9 per cent in November from the previous month to 94 against a 2015 baseline of 100 and that of industrial inventories declined 1.1 per cent to 94.6, the ministry said.
A resurgence of the coronavirus prompted government officials to urge the public to refrain from social gatherings during the year-end and new year holiday period.