Industrial production in May was revised to 4.1 percent growth, up from a preliminarily 3.9 percent reading, thanks to a stronger-than-expected output of drugs and railway cars, the government said Monday.
The seasonally adjusted index of output at mines and factories came to 96.8 against the 1995 base of 100, the Ministry of Economy, Trade and Industry said. The margin of growth in May was the largest since 4.2 percent was registered in September 1992.
In tandem with the brisk output, the seasonally adjusted capacity utilization ratio climbed by a record-high 3.8 percent to an index reading of 94.6, its highest since 95.6 in April 2001, METI said.
Compared with a year earlier, the unadjusted utilization ratio for May edged up 0.2 percent, marking the first upturn since December 2000.
By industry, the operating ratio climbed 8.7 percent from April for automobiles and other transport equipment, 7.3 percent for electric machinery and 2.2 percent for general machinery.
The production capacity index was unchanged at an unadjusted 93.7. It was the first time in two months that the index has not slipped. According to a METI official, the moderate reduction in output capacity has not changed.
The industrial shipment index was unchanged from the preliminary report, growing 4.8 percent to 101.2.
The inventory index inched up a revised 0.1 to 88.8, compared with the earlier reported 0.2 percent rise. The ratio of inventories to shipments lost a revised 2.4 percent to 98.2 against the 2.2 percent dip in the preliminary report.