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Investing.com-- Japan’s industrial production rose unexpectedly in October, government data showed on Friday, offering a tentative sign that manufacturing activity is stabilising after months of uneven factory output.
Industrial production rose 1.4% month-on-month in October, in contrast with expectations for a 0.5% decline, and slowed from a 2.6% climb in September.
Output increased in key sectors, including autos and electronic components, helped by firmer export orders and improved parts availability. However, the recovery remains fragile as manufacturers continue to navigate soft global demand and lingering supply-chain frictions.
However, manufacturers surveyed by the government expect factory output to fall 1.2% in November and drop 2% in December.
Retail sales grew 1.7% year-on-year in October, beating expectations of a 0.8% rise, and picked up from a measly 0.2% gain last month.
A rebound in retail sales data signaled that Japanese private consumption, a key driver of the economy, bounced back on expectations of tax cuts and more expansionary policies under the new administration.
Private spending has been a major driver of Japanese inflation in recent years, and was also a motivating factor for the Bank of Japan to hike interest rates.