Japan's Industrial Production Rises, Beating Forecasts
International Business Times
Published Nov 27, 2014 09:26PM ET
Japan's Industrial Production Rises, Beating Forecasts
By Mark Hanrahan - Japan’s industrial production rose 0.2 percent from September to October, confounding predictions it would fall by -0.6 percent and marking the second consecutive month of gains, according to preliminary figures released by the country’s Ministry of Economy, Trade and Industry Friday. Although it beat forecasts, the advance is still smaller than 2.9 percent increase from August to September.
Economic news from the country was not all positive, however. Retail sales fell -1.4 percent in October, more than the -0.5 percent that economists had been predicting, the Financial Times reported.
The Shinzo Abe-led government boosted Japan’s sales tax from 5 percent to 8 percent in April, the first tax hike there in 17 years, CNBC said. The country’s economy has struggled to deal with the tax increase’s impact on demand, and many manufacturers are struggling with their inventories, limiting the scope for increased production, according to MarketWatch.
Good economic data is crucial to Abe at this time, as he seeks to build public support for his economic policies ahead of snap parliamentary elections next month.
“The economy may be starting to turn around,” Takeshi Minami, chief economist at Norinchukin Research Institute, told the Wall Street Journal. “But the momentum is very small.”
Get The News You Want
Written By: International Business Times
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.