• SHARE

Domestic mining and manufacturing slipped 0.8 percent in September from the previous month in a backlash against active output in August, according to a preliminary report issued Wednesday by the Ministry of International Trade and Industry.

The seasonally adjusted index of industrial production reached 101.1 against a 100-point benchmark set in 1995.

The production dip in September was attributed to the general machine, electric machine and plastic product industries. Printing presses for newspapers, personal computers and steam turbine components for electricity were main contributors to the decline, according to the report.

Meanwhile, industrial production during the July-September period surged 3.8 percent from the previous period, marking the biggest gain since the first quarter of 1976. The index for the third quarter this year hit 100.2.

Shipments also dropped 0.3 percent in September due to a decline in sectors such as electric and other machinery and fabricated metals. The shipment index reached 102.9. Shipments during the July-September period grew 3.9 percent, with the index reaching 101.8 for that quarter.

Inventory declined 0.2 percent in September, but the inventory-sales ratio increased 0.2 percent. The index for inventory reached 95.2 percent and that of the inventory-sales ratio 100.7. “Although uncertain aspects lie in the outlook for a sustainable recovery in final demand, production and shipment appear to be getting better,” the report says.

MITI expects production to further dip 0.9 percent in October and to increase 3.8 percent in November with the help of transport equipment such as automobiles. “However, it is difficult to foresee a sustainable recovery in consumption and investment. It is natural to predict (negative) situations for workers’ income and government-stimulated demand running out of steam,” said a MITI official.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW