Japan's May factory output growth lagged forecasts

Japan's May factory output growth lagged forecasts TOKYO, June 30 : Japan's factory output rose at a slower-than-expected pace in May from the previous month, government data showed on Tuesday. Here are a few details. • Industrial output grew 0.5 per cent in May from the previous month, versus the median market forecast for a 1.1 per cent rise, according to the Ministry of Economy, Trade and Industry. It marked the second month of growth. • Manufacturers surveyed by the ministry expect seasonally adjusted output to increase 3.7 per cent in June and stay flat in July. • In May, transport equipment production rose 4.6 per cent month-on-month, while inorganic and organic chemicals output increased 3.7 per cent. • The indicator will be among factors the Bank of Japan will scrutinise as it decides whether to raise interest rates in the future.