Japan's April-June industrial production growth zooms to 8.3 per cent

Industrial production in Japan bounced back from the 2008 lows to a record 8.3 per cent in the April-June quarter, the fastest pace of growth since 1953, official data showed.

This, combined with a rise in corporate earnings and a slowing of the decline in Japan's exports have raised hopes that the world's number two economy is back on the growth path.

Production soared 8.3 per cent in April-June, after a record slump of 22.1 per cent in the first three months of the year, data showed.

Official data provided by Japan's ministry of economy, trade and industry showed that industrial production continues to show an upward movement. Shipments have increased while inventory and inventory ratio decreased.

According to the survey of production forecast in manufacturing, production is expected to increase in July and in August.

Industrial Production in June increased 2.4 per cent from the previous month, showing an increase for the forth consecutive month. It showed a decrease of 23.4 per cent from the previous year. The index in June was 81.0 (seasonally adjusted).