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Japan industrial production soars 4% on-month in January

Published on Feb 28, 2014 8:26 AM

TOKYO (AFP) - Japan's factory output in January soared 4.0 per cent on-month, official data showed on Friday as companies looked to meet increased demand ahead of a sales tax hike.

The reading beat economists' predictions of a 3.0 per cent rise and was much higher than a 0.9 per cent rise in December.

"Industrial production continues to show an upward movement," the ministry of economy, trade and industry said in a monthly report.

The report also showed manufacturing companies plan to slash their production by 3.2 per cent in March after raising it by 1.3 per cent in February.

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