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Japan's factory output, retail sales seen rising in November

  • December 24, 2021
    Japan's factory output, retail sales seen rising in November







    Japan's factory output likely rose at the fastest pace in five months in November, highlighting resilience in the country's manufacturing sector, a Reuters poll showed on Friday.



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    Retail sales growth was seen picking up in November, while the jobless rate was likely to hold steady at its lowest since March and job availability was expected to improve, according to the poll.



    The positive data raise the likelihood the world's third-largest economy will bounce back in the current quarter from a sharp slump in July-September, when corporate and consumer confidence took a big hit from a coronavirus resurgence.



    Ministry of Economy, Trade and Industry (METI) data out at 8:50 a.m. Dec. 28 (2350 GMT Dec. 27) is expected to show industrial production grew 4.8per cent month-on-month in November, which would be its largest gain since June, according to a Reuters poll of 16 economists.



    "Car production is expected to recover sharply due to the relaxation of supply constraints," said economists at SMBC Nikko Securities.



    "In addition to that, strong external demand continues to drive output of general machinery-related goods higher."



    Separate trade ministry data due at 8:50 a.m. Dec. 27 (2350 GMT Dec. 26) is expected to show retail sales posted their second straight month of year-on-year gains in November, rising 1.7per cent.
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