Industrial output in Japan was up a seasonally adjusted 2.9 percent on month in October, the Ministry of Economy, according to rttnews.

That exceeded forecasts for an increase of 1.1 percent following the 0.4 percent decline in September.

On a yearly basis, industrial production jumped 4.2 percent, again beating expectations for a gain of 2.5 percent following the 2.5 percent drop in the previous month.

Upon the release of the data, the METI raised its assessment of industrial production, saying that it is picking up slowly.