Home | Breaking News | Japan industrial output lags forecasts; retail spending falls

Japan industrial output lags forecasts; retail spending falls

WT24 Desk

TOKYO — Japanese industrial output rose 1.4 percent in October from the month before, below forecasts and a decrease from the year before, AP reports.  Government data released Monday also showed retail spending fell in October from a year earlier.

The slowdown in China has reverberated in Japan, the world’s third-largest economy, which fell back into recession during the summer, contracting 0.8 percent in the July-September quarter. The government said last week it will draft a supplementary budget and provide cash handouts to pensioners to counter weak demand.

Factory output fell 1.4 percent in October from a year earlier as production of chemicals, nonferrous metals and telecoms equipment dropped.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

%d bloggers like this: