MTECHTIPS:-GLOBAL HAPPENINGS Japanese industrial output rose 2.0 percent in May from the previous month, up for the fourth consecutive month, a sign that a pickup in exports is underpinning factory output and the broader economy. Manufacturers surveyed by the ministry expect production to fall 2.4 percent in June but rise 3.3 percent in July. The ministry maintained its assessment of industrial output, saying it was showing a moderate pickup trend. Contracts to purchase previously owned U.S. homes rose in May to the highest level in more than six years as buyers rushed to the market to lock in deals before interest rates climb higher.
Posted on: Fri, 28 Jun 2013 06:20:21 +0000
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