Production of Japan's Manufacturers Rises 1.8%

Emergency spending by governments worldwide have rekindled global trade, as Japanese manufacturers increased production for a sixth month in August, the longest stretch of gains in 12 years, reports Bloomberg.

 

Quoting Tokyo's Trade Ministry, Bloomberg says that factory output rose 1.8% in August after climbing 2.1% the previous month.

 

A report obtained by Bloomberg shows that companies intend to increase output by 1.1% this month and 2.2% in October. Manufacturers including Fuji Heavy Industries Ltd. are hiring workers to meet higher demand as production rebounds from a record collapse in the first quarter this year, says Bloomberg.

 

Meanwhile, Japan’s export markets are showing signs of picking up, despite caution among some companies. Citing figures from Tokyo's Cabinet Office, Bloomberg says that overseas shipments increased 6.1% last month in volume terms. Exports to the U.S. rose 4.6% and sales to Asia climbed 10.2%.

 

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