Japan, China may soon be out of recession

Japan and China today reported continued rise in industrial production in the preceding two months - September and October - showing signs that the world's second- and third- largest economies will soon be out of the economic crisis.

The total value of machinery orders received by 280 manufacturers operating in Japan increased by 6 per cent in September from the previous month on a seasonally adjusted basis.

In the July-September period it rose 10.4 per cent compared with the previous quarter, a Japanese government release said.

Private-sector machinery orders, excluding `volatile ones' like ships and those from electric power companies increased by a seasonally adjusted 10.5 per cent in September, but showed an overall 0.9 per cent fall for the July-September period, the release said.

In the October-December period, the total amount of machinery orders was forecast to fall 1.1 per cent and private-sector orders, excluding volatile ones, were forecast to increase by 1.0 per cent, respectively, from the previous quarter.

The orders, seen as a key barometer of business investment, jumped 10.5 per cent in September from the previous month, following a 0.5 per cent rise in August and a 9.3 per cent drop in July, the government said.