Industrial production grew 1.0 percent in January from December for the second straight monthly rise, backed by positive developments in global economic conditions and the weakening yen, the Ministry of Economy, Trade and Industry announced Thursday.
METI upgraded its basic assessment of production, saying it "has bottomed out and shows some signs of picking up." The assessment was raised for two straight months for the first time since 1995, a ministry official said.
"As a background, global economies are ceasing to decline and (Japanese) exports are showing signs of picking up. . . . Business sentiment over the prospects has also improved because of the correction in the yen's strength and rising share prices," the official said.