Japan's industrial output returns to growth in February

By Tuba Ongun

ANKARA (AA) - Japan's industrial output increased 4.5% in February compared to the previous month, according to a report on Friday.

The figure returned to growth after a slump in January partly led by the Lunar New Year holiday, the Economy, Trade and Industry Ministry data showed.

It was much better than the market estimate of a 2.7% growth.

On an annual basis, industrial production decreased 0.6% in February, the fourth consecutive month of decline.

Separate data showed retail sales rose 1.4% month-on-month in February from the previous month, the fastest pace in over two years.

Meanwhile, unemployment rate increased to 2.6% in February, compared to January's 2.4%.

The number of jobless grew by 130,000 to 1.8 million, while employment fell by 300,000 to 67.1 million in February.

The jobs to applicant ratio edged lower to 1.34 in February from 1.35 in the prior four months, meaning 134 jobs offered for every 100 applicants.