Japan’s industrial production has eked out gains for a fourth straight month as manufacturers stayed resilient in the face of headwinds from the Middle East conflict. Output gained 0.1% in July from the previous month, the industry ministry reported Monday. The advance, which followed a robust 1.9% jump in the previous month, beat expectations, as economists had forecast a 0.7% drop.
Production rose 4.1% from a year earlier, versus forecasts for a 3.3% increase. The continued expansion suggests manufacturers weathered uncertainty stemming from the Middle East better than expected. Businesses have faced rising operating costs due in part to supply-chain disruptions resulting from the war in Iran, but the weak yen has helped soften that blow for exporters.
Activity in the manufacturing sector has been expansionary every month this year.
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