Japan’s Nov factory output falls for first time in three months
Additional data revealed that Japan’s retail sales also declined 1% in November, exceeding the market’s expectations, which called for a 0.6% decline. Analysts commented that Japan’s November factory output and retail sales figures indicate that softening demand from emerging markets continues to impede recovery in the economy. However, Japanese manufacturers reportedly expect to see an increase in industrial output in January on the back of higher auto production, although sluggish demand from emerging markets will likely continue to cloud the country’s exports.
Japan’s economy fell back into recession in the third quarter, shrinking by 0.8% on an annualized basis following a 0.7% contraction in the second quarter. However, a survey of business leaders showed that Japanese industrialists expect a rise in production of around 0.9% in December, indicating that market players retain a sense of confidence in the economic outlook.
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