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Unexpected fall in Japanese industrial output | Unexpected fall in Japanese industrial output |
(about 1 hour later) | |
Japan's industrial output unexpectedly fell in February, due to lower overseas demand for cars and electronic goods, official figures have shown. | Japan's industrial output unexpectedly fell in February, due to lower overseas demand for cars and electronic goods, official figures have shown. |
Production last month declined by 1.2% compared with January, said the Trade Ministry. | Production last month declined by 1.2% compared with January, said the Trade Ministry. |
Analysts had expected to see output in February increase by 1.3%. | Analysts had expected to see output in February increase by 1.3%. |
The ministry forecasts a recovery going forward. It predicts growth of 2.6% in March, and 0.7% in April. Commentators also expect output to recover. | The ministry forecasts a recovery going forward. It predicts growth of 2.6% in March, and 0.7% in April. Commentators also expect output to recover. |
Yuichi Kodama, economist at Meiji Yasuda Life Insurance in Tokyo, said: "The improving global economy, mending of supply chains damaged by Thai floods and subsidies for energy efficient cars are likely to support Japanese production in the coming months." | Yuichi Kodama, economist at Meiji Yasuda Life Insurance in Tokyo, said: "The improving global economy, mending of supply chains damaged by Thai floods and subsidies for energy efficient cars are likely to support Japanese production in the coming months." |
Falling unemployment | |
Other data released on Friday supports the recovery view. | |
The country's unemployment rate fell to 4.5% in February from 4.6% in January. | |
Japan's core consumer price index also rose for the first time in five months to 0.1% in February. | |
Analysts were expecting a 0.1% decline. | |
"Japan is still on the course of a mild recovery," Junko Nishioka chief economist at RBS Securities Japan said. | |
Ms Nishioka expects the unemployment rate to fall to the 4% level over the next six months while the CPI is expected to rise 0.1% in March. |
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