Industrial output in Japan falls more than market estimate in October

By Tuba Sahin

ANKARA (AA) - Japan's industrial output fell more than expected in October compared to last month, according to provisional data released on Monday.

Industrial production dropped 1.6% month-on-month, exceeding the market estimate of a 1% monthly decline, data from the Economy, Trade and Industry Ministry showed.

The provisional reading registered the first decline since May due to the lower production of motor vehicles (down 12.4%), inorganic and organic chemicals (down 6.3%), and production machinery (down 1.8%).

On an annual basis, industrial output rose 9.8% in October, the data showed.

In separate figures, the ministry revealed that Japan's retail sales increased for the seventh month in a row, surging 4.5% year-on-year in September. This was the most rapid growth since May 2021.

September's flash reading beat the market forecast of 4.1%

On a monthly basis, the Japanese retail trade volume rose 1.1% in September, following gains of 1.3% in August, the strongest in five months.