Monday 29 June 2009

Japan May Indus Output +5.9% On Mo; Mkt Expected +6.9%

Sun, Jun 28 2009, 23:57 GMT

Japan May Indus Output +5.9% On Mo; Mkt Expected +6.9%

TOKYO (Dow Jones)--Japan's industrial output rose in May for the third straight month, increasing 5.9% over April, the government said Monday, further fueling expectations for a strong rebound in manufacturing in the April-June quarter.

The rise in this key gauge of Japan's economy was smaller than the 6.9% increase expected on average by economists surveyed by Dow Jones and the Nikkei. It matched the revised 5.9% rise in April.

A 24.8% rise in transport equipment and a 10.5% increase in electronic components and devices led the overall rise, according to preliminary data from the Ministry of Economy, Trade and Industry.

Inventories fell 0.6% in May, compared with a revised 2.7% drop in April, as firms made further progress clearing stock.

In another positive sign, shipments were up 4.5% compared with a revised 3.0% rise in April.

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-By Andrew Monahan, Dow Jones Newswires; 813-6895-7553;

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(END) Dow Jones Newswires

June 28, 2009 19:57 ET (23:57 GMT)

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