Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

Japan Oct industrial output seen rising but Toyota disruptions will weigh- Reuters poll

Published 11/24/2023, 12:25 AM
Updated 11/24/2023, 12:30 AM
© Reuters. Toyota Motor Corp's logo on Estima Hybrid model is pictured at its headquarters in Tokyo, Japan, February 6, 2017. REUTERS/Kim Kyung-Hoon/File Photo
TM
-

TOKYO (Reuters) - Japan's industrial output likely inched up in October, a Reuters poll found on Friday, although widespread disruptions at top automaker Toyota Motor (NYSE:TM) are expected to weigh heavily on the data.

Industrial production likely grew 0.8% in October from the previous month, according to a median estimate of 16 economists, after rising 0.5% in September.

Toyota suspended work at several group factories for varying periods over more than a week last month due to an accident at a supplier's facility.

"Transportation-related output is highly likely to undershoot plans due to the disruption," said Chisato Oshiba, an economist at Dai-ichi Life Research Institute, who forecast a 0.3% fall in October output.

"We expect industrial production to have continued on a weak note, dragged down by a global downturn in demand."

In September, industrial output only eked out a rise despite a strong recovery in automobile production from disruptions caused the previous month by a typhoon and a system failure at Toyota.

Output of electronic products and devices is expected to have remained strong, another economist said.

The government will release the October industrial output data at 08:50 a.m. on Nov. 30 (2350 GMT, Nov. 29).

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.