Bloomberg
Published Feb 26, 2021 01:08
Updated Feb 26, 2021 01:18
(Bloomberg) -- Japanese factories increased output in January for the first time in three months, signaling the country’s economic recovery is continuing despite a renewed state of emergency to contain the coronavirus.
Industrial production rose 4.2% from the previous month, the trade ministry reported Friday. Economists had projected a 3.8% gain amid rising exports, especially to China.
Separate figures showed retail sales fell 0.5% in January from a month earlier and continued falls in consumer prices in Tokyo.
While the drop in retail spending was smaller than during an wider-ranging emergency last year and economists’ forecasts, it still underscored a split in the recovery between domestic and export-driven sectors.
Key Insights
What Bloomberg Economics Says...
“Looking ahead, we expect production to drop in February, given an extension of the virus emergency until March 7. Beyond that, production is likely to recover gradually toward 2Q, assuming virus infections are brought under control in 1Q 2021 with the smooth supply of vaccines.”
--Yuki Masujima, economist
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Written By: Bloomberg
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