November factory output soars on car production

Prolonged impact: Toyota workers are seen installing hydrogen tanks in a fuel-cell vehicle in Aichi. Despite stronger output, Japanese automakers are unable to completely shake off the drag from persistent global parts and chip supply issues. — Bloomberg

TOKYO: Japan’s factory output jumped at the fastest pace on record in November, as easing global supply chain bottlenecks helped car production leap out of its recent slump, lifting prospects for a strong fourth-quarter economic rebound.

But while improved manufacturing conditions provide some relief for policymakers, persistent global semiconductor shortages and new risks from the Omicron coronavirus variant are expected to cloud the outlook for the world’s third-largest economy.