Industrial Output up 1.6 percent, reaches all-time high

November 29, 2007
By Ken Worsley

Export demand is still strong, apparently. According to figures released by the Ministry of Trade, Economy and Industry today, industrial production rose 1.6% in October against the same month last year, and hit an all-time high.

With Toyota leading the charge by raising production by 12.9 percent, the ministry said that exports of autos and semiconductors are on the rise, and expressed hope that industrial production would remain high in the coming months. Exports have remained strong despite the fear of slowdown in the US economy, as Japan continues to move more products into developing countries, and especially into Asia.

Domestic consumption, however, remains a back-burner worry; wages are down on the year and unemployment slightly up over the past few months. With unemployment and household spending figures due out tomorrow, a better picture of projected year-end domestic expenditures will start to come into focus.

Filed Under Economic Reports, METI