Japan Nov industrial output seen swinging back to contraction: Reuters poll
Reuters
Published Dec 22, 2023 12:02AM ET
TOKYO (Reuters) - Japan's industrial output in November likely swung back to contraction for the first time in three months, a Reuters poll of analysts showed on Friday, dented by sluggish demand and slowdown in overseas economy.
Industrial production was projected to shrink 1.6% in November from the previous month, according to a median estimate of 17 economists, followed by 1.3% growth in October.
Production recovery in the automobile industry, which has underpinned industrial output, has slowed recently and exports were also weak in November, said Chisato Oshiba, an economist at the Dai-ichi Life Research Institute.
"Industrial production has continued to seesaw due to sluggish domestic demand for goods and the slowdown in overseas economies, and is on a gradual downtrend when evened out."
Japan's exports in November fell for the first time in three months, dragged down by China-bound chip shipments.
Output for electronic components and devices as well as electric machinery are expected to decline in November partly due to a reaction to the large increase in the previous month, said Shunpei Fujita, an economist at Mitsubishi UFJ (NYSE:MUFG) Research and Consulting.
The government will release the November industrial output data at 0850 a.m. local time on Dec. 28 (2350 GMT, Dec. 27).
Get The News You Want
Written By: Reuters
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.