This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-29421535
The article has changed 5 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Asian markets fall on weak Japan factory data | Asian markets fall on weak Japan factory data |
| (35 minutes later) | |
| Japan's benchmark Nikkei 225 Index is trading 1% lower after data showed the country's industrial output unexpectedly fell. | |
| Manufacturing output fell 1.5% in August from a month earlier. Economists had estimated a 0.2% gain. | Manufacturing output fell 1.5% in August from a month earlier. Economists had estimated a 0.2% gain. |
| South Korea also posted a 3.8% drop in factory output for August, marking its worst monthly fall since 2008. | South Korea also posted a 3.8% drop in factory output for August, marking its worst monthly fall since 2008. |
| Investors remain on edge over tensions in Hong Kong, where pro-democracy protestors have taken to streets. | Investors remain on edge over tensions in Hong Kong, where pro-democracy protestors have taken to streets. |
| Hong Kong's Hang Seng has opened 0.4% lower, logging its second straight day of declines. It closed down 1.9% on Monday. | |
| Seoul's Kospi and Australia's ASX 200 index are both also in negative territory. | |
| The regional benchmark index, MSCI Asia Pacific, is down 0.6% in Tokyo, and is headed for its steepest monthly drop since May last year. | |
| Japan economy | Japan economy |
| Japan's weak manufacturing figures come as the country's prime minister, Shinzo Abe, weighs a second increase to the unpopular sales tax, adding to worries about the state of the economy. | Japan's weak manufacturing figures come as the country's prime minister, Shinzo Abe, weighs a second increase to the unpopular sales tax, adding to worries about the state of the economy. |
| The sales tax increase led Japanese consumers and business to pull back from spending, causing economic growth to shrink sharply. | The sales tax increase led Japanese consumers and business to pull back from spending, causing economic growth to shrink sharply. |
| Aside from factory data, Japan also released mixed retail sales, household spending and unemployment numbers on Tuesday. | Aside from factory data, Japan also released mixed retail sales, household spending and unemployment numbers on Tuesday. |
| Retail sales rose 1.9% in August from a month earlier, above forecasts. However, household spending fell for its fifth straight month by 0.3%. | Retail sales rose 1.9% in August from a month earlier, above forecasts. However, household spending fell for its fifth straight month by 0.3%. |
| The jobless rate fell in August, while the availability of jobs stayed at a 22-year high. | The jobless rate fell in August, while the availability of jobs stayed at a 22-year high. |
| Marcel Thieliant, Japan economist at Capital Economics said "today's data are unlikely to dispel concerns about the pace of recovery from last quarter's slump". | Marcel Thieliant, Japan economist at Capital Economics said "today's data are unlikely to dispel concerns about the pace of recovery from last quarter's slump". |
| "We think the weakness in output since the beginning of the year will take its toll on the job market in coming months," he added. | "We think the weakness in output since the beginning of the year will take its toll on the job market in coming months," he added. |
| "Accordingly, we expect the unemployment rate to climb to 4% by the end of the year." | "Accordingly, we expect the unemployment rate to climb to 4% by the end of the year." |