Japan industrial output up more than expected

By Tuba Ongun

Japan’s industrial output rose 1% month-on-month in October, beating forecasts of an 0.8% rise, according to official data released Thursday.

The figure followed monthly growth of 0.5% in September, which shifted from declines in the previous two months, said the Economy, Trade and Industry Ministry.

Factory output growth was led by electronic parts and devices, auto industry, and information and communication electronics equipment.

On an annual basis, production grew 0.9% in October, also beating market expectations.

Separate data on Wednesday showed retail sales rose at the slowest pace so far this year, up 4.2% year-on-year in October. This was below market estimates of a 5.9% rise.

Retail sales fell 1.6% month-on-month in October, below forecasts.