Government data showed a third straight monthly gain in industrial production, with 13 of 15 sectors rising and manufacturers projecting further increases in July and August.
Japan's factory output rose 1.3% in June from the previous month, outpacing the median market forecast for a 0.7% increase and marking a third straight monthly gain. The Ministry of Economy, Trade and Industry said the seasonally adjusted industrial production index at factories and mines stood at 103.9 on a 2020 base, while keeping its overall assessment unchanged at "fluctuating indecisively." The gain was broad-based, with 13 of 15 sectors advancing and production machinery posting the biggest increase at 7.6%. Manufacturers' projections pointed to further seasonally adjusted gains of 1.2% in July and 4.5% in August, suggesting momentum could continue even as investors weigh support from recovering semiconductor demand and a weak yen against risks from China's slowdown and uncertainty over U.S. trade policy.