Japan's industrial output up 0.5% in May

Japan's industrial production rose 0.5% in May, rebounding from a decline the previous month, government data showed Monday, suggesting the April 1 consumption tax hike had a limited impact on demand.
The seasonally adjusted index of output at factories and mines stood at 99.8 against the base of 100 in 2010, Japan's Ministry of Economy, Trade and Industry said in a preliminary report.
The index of industrial shipments lost 1.2% to 96.8 while that of inventories was up 2.9% at 108.3, according to Japan's (Kyodo) News Agency.
The month-on-month rise of the output index compared with a 2.8% drop in April but the figure for May was below average market expectations for a 0.9% increase.