Japan’s industrial production up 2.4 per cent in October

Industrial production in Japan rose 2.4 per cent in October, helped by an over 20 per cent jump in automobile production, although the outlook has been clouded by the threat of a deepening debt crisis in Europe.

This compares with a negative (-) 3.3 per cent expansion in Japan's industrial output in September this year, the first drop in output since the devastating earthquake and tsunami in March.

With a planned $155-billion boost for the economy some months away, the world's third-largest economy looks set for a recovery from the slump caused by the tsunami and the quake.

That Japan could raise its exports despite a rising yen has been made possible by currency market intervention and monetary easing.

Japanese carmakers are increasing production to make up for production lost after the earthquake. But the markets are not assured, especially due the risks posed by Europe's debt problems.

Trade and industry expect output to fall 0.1 per cent in November and increase 2.7 per cent in December, a survey of manufacturers by the ministry of economy showed.