2024-01-31 02:08:21 ET
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Industrial production in Japan increased by 1.8% month-over-month in December 2023, reversing from a 0.9% drop in the prior month but falling short of market estimates of a 2.4% growth, the Ministry of Economy, Trade and Industry said in Wednesday's preliminary report.
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Yearly, industrial output dropped by 0.7% in December, slowing from a 1.4% decline in November.
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Retail sales in Japan rose 2.1% year-on-year in December 2023, slowing from a 5.4% gain in November and missing market expectations for a 4.7% growth, marking the 22nd consecutive month of expansion in retail sales as consumption continued to recover from the pandemic-induced slump.
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On a monthly basis, retail sales declined by 2.9% in December, reversing from a 1% rise in November.
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Currency: ( USD:JPY )...
More on Japan economy:
- Japan's manufacturing shrinks for an eighth consecutive month amid weak demand
- Bank of Japan keeps negative interest rate unchanged, trims 2024 inflation forecasts
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Japan's inflation rate continues to ease in December amid lower electricity and gas bills
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Japan's industrial output declines 0.9% in November; core machinery orders fall 4.9%
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Summary of opinions: Members of BOJ called for debate on future exit from easy policy
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Japan's industrial output rises 1.8%; retail sales miss forecast in December