Japan's May factory output growth lagged forecasts

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TOKYO, June 30 : Japan's factory output rose at a slower-than-expected pace in May from the previous month, government data showed on Tuesday.

Here are a few details.

• Industrial output grew 0.5 per cent in May from the previous month, versus the median market forecast for a 1.1 per cent rise, according to the Ministry of Economy, Trade and Industry. It marked the second month of growth.

• Manufacturers surveyed by the ministry expect seasonally adjusted output to increase 3.7 per cent in June and stay flat in July.

• In May, transport equipment production rose 4.6 per cent month-on-month, while inorganic and organic chemicals output increased 3.7 per cent.

• The indicator will be among factors the Bank of Japan will scrutinise as it decides whether to raise interest rates in the future.

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