Japan's industrial output rises for 1st time in 5 months in June

Japan's industrial production increased for the first time in five months in June owing to a pickup in the nation's economic activity that had previously been severely hampered by the coronavirus, the government said in a report on Friday.

According to the Ministry of Economy, Trade and Industry, the seasonally adjusted index of production at factories and mines rose 2.7 percent from the previous month to 80.8 against the 2015 base of 100.

The ministry upgraded its assessment of the country's industrial output from "rapidly declining" in April and May, to "production bottoming out and showing signs of picking up."

The index of industrial shipments in June increased 5.2 percent to 80.8, the ministry said. However, inventories decreased 2.4 percent to 100.8 in the recording period.

Looking ahead, manufacturers surveyed said they believed that industrial output would increase 11.3 percent in July and rise 3.4 percent in August.

The ministry's preliminary report also said that production is expected to increase in July and August.