Economics
Japan Production Jumps by Record as Car Manufacturing Rebounds
- Output bounce may add tailwind to Japan’s growth this quarter
- Recovery in auto production accounted for most of the gains
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Japan’s industrial production jumped by a record in November, adding to evidence that a manufacturing recovery from supply chain snags was solidly underway before the omicron variant started to spread around the globe.
A bounce back in the auto industry helped production climb 7.2% from October’s level, the biggest gain in data going back to 1978, data from the economy ministry showed Tuesday. Analysts had expected a 4.8% increase.