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

Published Nov 24, 2023 12:25AM ET Updated Nov 24, 2023 12:30AM ET
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© 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
 
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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).

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

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