Japan’s industrial production rose more than expected in October, offering a fresh sign of economic resilience as improvement in supply chains bolstered automakers and inventory adjustments underpinned the electronics parts industry.
Factory output rose 1% from the previous month, beating economists’ forecasts of a 0.8% gain, the industry ministry said Thursday. Production increased 0.9% compared with a year earlier, also exceeding consensus estimates.
A separate report Thursday showed that retail sales fell 1.6% in October from September, reversing after three months of gains. Economists had expected the reading to increase by 0.4%. Sales rose 4.2% from a year earlier, lagging estimates. Inflation accelerated for the first time in four months in October, prompting households to pare discretionary spending.
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