Industrial production rose an unadjusted 1.3 percent in 2005 from the previous year, the third straight annual increase, with upbeat December data leading the government to revise upward its earlier economic assessment, the Ministry of Economy, Trade and Industry said Monday.
The index of output at mines and factories stood at 101.5 in 2005 against a base of 100 for 2000, METI said in a preliminary report, the highest figure recorded under the 2000 baseline. In December, the output index rose a seasonally adjusted 1.4 percent to 105.0 from the previous month, for the fifth straight monthly rise, hitting the highest reading based on the 2000 standards.
The market had forecast 1.9 percent output growth for December. The five-month growth streak was the first since July-November 1999 and the longest under the 2000 benchmark.
The ministry revised its assessment of industrial production upward for the reporting month, saying industrial activity is "gradually drifting upward," instead of "on a moderately upward trend," as it described October-November output.
The 2005 output growth was mainly attributed to robust production of vehicles and general machinery.