TOKYO (Reuters) – Japanese factory output likely fell for a third straight month in November, according to economists polled by Reuters, as shrinking global demand took its toll on electronics and related products.
In a more hopeful sign for the world’s third-largest economy, the same poll forecast retail sales rising for the ninth straight month, suggesting that while inflation is at a four-decade low , but consumer spending remains resilient.
On Friday the median forecast of economists showed that industrial production is expected to fall by 0.3 in November from the previous month %. Output fell 3.2% in October after falling 1.7% in September.
“While supply disruptions such as semiconductor shortages have been easing, fears of a global economic slowdown are cooling demand for electronic components and equipment – products sensitive to climate change Norinchukin Institute Chief Economist Takeshi Minami said. Returned to growth territory in November.
Like many countries, Japan’s economy remains constrained by rising inflation, rising interest rates overseas and challenges posed by the war in Ukraine
Most importantly, Japan must focus on China’s COVID-16 Risk of a comeback as it lowered its official assessment of factory output for the first time in six months.
The Reuters poll also expects Japan’s retail sales to rise in November from a year earlier 3.7%, continuing a trend of growth that began in March.
This suggests that consumption may remain strong against the fastest growing consumer since 2330 Inflation has also been driven by inbound tourists following the reopening of Japan’s borders in October.
Jobseekers in Japan expect unemployment and jobless rates to rise in November Slight improvement at 1.30 and 2.5% respectively.
Government to release factory output data at 8: 50 am on Dec. 30 (2330 GMT, December28) and retail sales data for 8 points: 50 Dec2330 (2330 GMT, Dec19). Employment data due for December 19 at 8: 30 Expires (2330 GMT Dec 19).