Japan's industrial activity rises 1.2% in October

15:41, December 21, 2009      

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Industrial activity in Japan posted a 1.2 percent rise in October, according to statistics released by the Ministry of Economy, Trade and Industry on Monday.

The rise will relieve Japan, after industry posted a 0.7 percent drop in September in revised statistics, fueling fears that the nation may be headed for a double-dip recession.

Tertiary industry activity rose by 0.5 percent compared with the previous month, while mining and manufacturing activity also increased by the same margin. Public industrial activity, however, fell by 0.4 percent and activity in the construction sector dropped by 0.9 percent.

Compared with the previous year, all industry activity posted a6.4 percent drop, underlining the downturn Japan has experienced since the credit crisis that started in the United States reached its shores toward the end of last year.

Compared to the previous year, only government services posted a slight rise in activity of 0.9 percent. Industrial production posted a fall of 15.1 percent, while construction activity fell by10.7 percent. Activity in the tertiary sector also declined by 4.7percent year on year.

Earlier this month, the coalition government led by the Democratic Party of Japan (DPJ) announced a 7.2 trillion yen (80 billion dollar) stimulus package to try to keep the nation's economic recovery going and prevent deflation from deepening, amid worries that conditions could worsen. 

Source: Xinhua
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