Output rises for autos and electronics

Solid gains: People walking past restaurants in Tokyo. Confidence among the nation’s large manufacturers picked up more than expected in September compared with three months earlier. — AFP

TOKYO: Japan’s industrial production rose more than expected in October, offering a fresh sign of economic resilience as improvement in supply chains bolstered automakers and inventory adjustments underpinned the electronics parts industry.

Factory output rose 1% from the previous month, beating economists’ forecasts of a 0.8% gain, the industry ministry said yesterday. Production increased 0.9% compared with a year earlier, also exceeding consensus estimates.