Japan’s All Industry Activity Contracts In October; Growth In Industrial Production Slows

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Japanese auto dealership Honda
A man walks past Honda Motor Co. cars at a showroom in Tokyo January 30, 2008.

Growth in Japan’s industry activity, which combines construction, agriculture, the public sector and industrial output, fell 0.2 percent in October on a monthly basis -- for the first time in four months -- in line with analysts’  expectations and down from a rise of 0.5 percent (upwardly revised) in September, data from Japan’s Ministry of Economy, Trade and Industry showed on Thursday.

On a year-on-year basis, the all industry activity index rose 1.9 percent in October, compared to an increase of 2.3 percent in September.

Tertiary industry activity contracted 0.7 percent month-on-month in October, compared to a flat reading in September.

Industrial production rose 1 percent in October after a 1.3 percent increase in September. Meanwhile, growth in construction output increased to 1.7 percent, compared to a 1.3 percent increase in the previous month. The indices of government services gained 0.4 percent.

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