Japan November manufacturing unit output seen rising for sixth month, outlook dims: Reuters ballot

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Japan November manufacturing unit output seen rising for sixth month, outlook dims: Reuters ballot

© Reuters. FILE PHOTO: Employee cycles in a manufacturing unit on the Keihin industrial zone in Kawasaki

By Tetsushi Kajimoto

TOKYO (Reuters) – Japan’s industrial output possible grew for a sixth straight month in November in an indication of gradual restoration in manufacturing unit exercise, though a current resurgence in COVID-19 infections clouds the outlook, a Reuters ballot confirmed on Friday.

The commerce ministry knowledge due at 8:50 a.m. on Monday (2350 GMT Sunday) is prone to present manufacturing unit output rose 1.2% in November from the earlier month, slowing from a 3.9% acquire in October, a Reuters ballot of 17 economists confirmed.

Japan’s manufacturing unit output has been recovering from a pandemic-related downturn earlier this yr, bolstered by world demand for cars and IT-related items in addition to capital items, however some analysts mentioned the outlook was unsure.

Takeshi Minami, chief economist at Norinchukin Analysis Institute mentioned new virus infections in Europe and America have stalled financial exercise there.

U.S. automotive gross sales are slowing and the Chinese language financial system’s restoration to its pre-pandemic progress path has run its course, which can put a lid on Japan’s manufacturing unit output, he mentioned.

“As such, Japan’s manufacturing unit exercise will seesaw in December and January,” he added.

The world’s third-largest financial system has rebounded from the second quarter’s COVID-induced deep hunch, lifted by rising exports and a pick-up in private-sector consumption.

Nevertheless, analysts fear {that a} current resurgence in coronavirus infections in Japan and elsewhere might preserve any restoration modest.

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