Japan’s industrial production fell more than expected in November, while retail sales posted modest growth, highlighting an uneven economic recovery as weak overseas demand continues to weigh on manufacturers.
Industrial production declined 2.6% month-on-month in October, more than expectations for a 1.9% decline, and reversed from a 1.5% rise in October.
The data underscored persistent pressure on Japan’s export-oriented industries, with companies grappling with slowing global demand and cautious capital spending by overseas clients.
Retail sales grew 1% year-on-year in November, beating expectations of a 0.9% rise, but slowed from a 1.7% gain last month.
Private spending has been a major driver of Japanese inflation in recent years, and was also a motivating factor for the Bank of Japan to hike interest rates.
source https://www.investing.com/news/economic-indicators/japan-factory-output-falls-more-than-expected-in-nov-retail-sales-rise-4422917
