Japan’s factory output was expected to rebound in April at the fastest rate in about six years, a Reuters poll found on Friday, boosted by rising exports as global demand recovers.
The poll of 20 economists found industrial production was expected to rise 4.3 percent in April from March, which would be its strongest growth since posting a gain of 6.8 percent in May 2011.
“The data is expected to confirm production activity is improving on the back of rises in exports and an inventory adjustment coming to an end,” said Yoshiki Shinke, chief economist at Dai-ichi Life Research Institute.
“Monthly data has fluctuated recently, so we’d better average out figures in April-June to see the trend.”
Analysts said a pickup in auto production thanks to a recovery in car sales and rising global demand for electronic components supported Japan’s industrial production in April.
The trade ministry will release factory output data at 8:50 a.m. on Wednesday Japan time (2350 GMT on Tuesday).
Respondents expected retail sales to grow 2.3 percent in April from a year earlier, up for the sixth month in a row.
Courtesy Reuters
