2023-12-28 05:34:06
Manufacturing production weakened by 0.9% in November over one month, according to these provisional figures, while the Bloomberg consensus economists had bet on a much more marked decline (-1.6%).
Automobiles, electrical machines and IT as well as industrial machines were the sectors that contributed the most to the drop in production last month, Meti said.
Shipments of Japanese manufactured goods decreased by 1.3% over one month, while the change in stocks was almost zero (+0.1%).
Retail sales in the archipelago also exceeded expectations in November (+1% over one month), their strongest increase since July, according to figures also published Thursday by Meti, which notably reflect the boosting effect on the consumption of the mass return of foreign tourists to the country.
These data reinforce the probability of a slight rebound in growth in the fourth quarter in Japan, which might thus avoid falling into recession following a 0.7% decline in its GDP in the third quarter, according to a second estimate published in early December.
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