Japan's industrial output rises 2.4 percent

Japan's industrial output rose 2.4 percent in October, compared to the previous month, the Ministry of Economy, Trade and Industry reported on Wednesday.The report noted that production continued to recover following the earthquake and tsunami that hit the country on March 11.However, factory output, the measure of how many goods manufacturers gained, declined by 3.3 percent. The rise, the reported pointed out, is largely attributed to a 11.6 percent gain in transport equipment, which was supported by brisk exports of passenger vehicles to North America and Europe. Machinery and chemical sectors also contributed the growth.The report said the production index is expected to fall 0.1 percent in November amid concerns over the effects of the flooding in Thailand, the European debt crisis and the strong yen, but estimates a 2.7 percent increase in December. Based on the results, the report kept its assessment on industrial production unchanged, saying it "appears to be flat." The gauge for inventory edged up 0.8 percent from the previous month.