PULSE: Japan industrial output misses expectations

LOS ANGELES (MarketWatch) -- Japan's industrial production grew 1% during January for its second-straight monthly increase, the Ministry of Economy, Trade and Industry said Thursday. The result missed a forecast for a 1.5% rise in separate Dow Jones Newswires and Reuters surveys. Transport equipment, including cars, was the top contributor to the gain, the ministry said. Despite the less-than-expected reading, the average forecast of manufacturers surveyed by the ministry showed industrial output was projected to surge 5.3% for February, up from a forecast 2.3% gain in the January survey. The yen gained fractionally after the data, with the dollar slipping from 92.34 to 92.31