Japan’s industrial production rebounded in September after two monthly declines, while slower retail sales growth showed the recovery was uneven across factories and consumer spending.
The Ministry of Economy, Trade and Industry (METI) said its preliminary industrial production index, which covers mining and manufacturing, rose 2.2% from August. The increase was the strongest monthly gain since January. Production had fallen 2.4% in August and also declined in July.
Output increased in automobiles, production machinery, and general-purpose and business-oriented machinery. Steel and nonferrous metals, ceramic and stone products, and chemical products excluding inorganic and organic chemicals and pharmaceuticals recorded declines. METI described production overall as uneven.
Separate preliminary commerce data showed retail sales rose 2.3% from a year earlier, slowing from 2.9% in August. Seasonally adjusted sales fell 0.7% from the previous month.
METI’s survey of manufacturers forecasts production gains of 5.1% in October and 0.8% in November.
