Japan's factory output suffer biggest fall in 8 months

  • Tuesday, February 28, 2023
  • Source:ferro-alloys.com

  • Keywords:market, mining industry,mine,ferrochrome
[Fellow]Factory output fell 4.6% in January from a month earlier on a seasonally adjusted basis, government data showed on Tuesday. The contraction was much larger than economists' median forecast of a 2.6% decline and followed an upwardly-revised 0.3% increase in Dec...

【Ferro-alloys.com】:Factory output fell 4.6% in January from a month earlier on a seasonally adjusted basis, government data showed on Tuesday. The contraction was much larger than economists' median forecast of a 2.6% decline and followed an upwardly-revised 0.3% increase in December.

Output of auto products slumped 10.1%, dragging down the overall index. Outputs of items such as production machinery and electronic parts dropped 13.5% and 4.2%, respectively.

Manufacturers surveyed by the Ministry of Economy, Trade and Industry (METI) expect output to rise 8.0% in February and gain 0.7% in March, the data also showed, although the official poll tends to report an optimistic outlook.

Separate data showed Japanese retail sales rose 6.3% in January from a year earlier, beating a median market forecast for a 4.0% gain and posting an eleventh consecutive month of expansion.

Compared from the previous month, retail sales expanded 1.9%, the data showed.

Japan's economy, the world's third-largest, is expected to post an annualised 1.4% expansion in January-March according to a Reuters poll, after weaker-than-expected 0.6% growth in the final quarter of 2022.

  • [Editor:Alakay]

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