Japan's September factory output surges for second straight month
Japan's factory output was supposed to ascend for a second straight month in September backed by the car sector, as a Reuters survey showed on Friday.
Industrial output was expected to have grown 1% in September from last month, after a 1.3% soar in August, according to the Reuters survey of 20 analysts.
Factory output was probably backed by IT and auto production in during July-September period, though it’s too early to ascertain whether industrial output has started to catch up, even if the September data is upbeat.
An expected surge in factory production in the July-September period would be mostly due to vehicle production reviving from April's earthquakes in southern Japan, and IT demand for handsets.
The survey disclosed that in September, retail sales edged down 1.8% from a year ago following a revised 2.2% sag in August, suggesting that consumer spending remained weak.
The trade ministry is expected to announce September factory output with manufacturer's forecasts as well as retail sales a bit later on Monday.