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Japan Economy Sees Light of Hope

Japan Economy Sees Light of HopeJapan Economy Sees Light of Hope

Japan's factory output rose in November and manufacturers expect to ramp up production in coming months, data showed Wednesday, RTE reported. This underscored the central bank's view that a pick-up in global demand will underpin a steady economic recovery. Japanese retail sales also increased in November and inventory fell for three months in a row, suggesting a broader improvement in the economy, with a recent rebound in exports also seen supporting growth. The figures reinforce the dominant market view that the Bank of Japan will hold off on expanding monetary stimulus in coming months. Industrial output in Japan rose by 1.5% in November from the previous month, preliminary data released by the trade ministry showed, roughly matching a median market forecast for a 1.6% increase. It followed a 0.6% gain in September and a flat reading in October. Manufacturers surveyed by the ministry expect output to increase 2% in December and rise 2.2% in January, a sign they are becoming more optimistic on the outlook for overseas demand.

 

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