Japan’s factory output misses forecasts in Oct amid slowing demand
2024.11.28 19:55
Investing.com– Japan’s factory output rose at a slower-than-expected pace in October from the previous month, due to a combination of weaker external demand and production challenges in key sectors, government data showed on Friday.
rose 3.0% in October from the previous month, data released by the Ministry of Economy, Trade and Industry (METI) on Monday showed, missing a median market forecast for a 3.3% rise.
Manufacturers surveyed by the Ministry of Economy, Trade and Industry expect seasonally adjusted output to fall 2.2% and 0.5% in November, and December respectively.
Separate data showed Japanese rose in October rose 1.6% from a year earlier, missing expectations for growth of 2.1%.
Today’s figures will be closely analyzed for their implications on Bank of Japan’s decisions, especially as policymakers monitor domestic resilience against global economic headwinds and political uncertainties.
The Bank of Japan (BOJ) is expected to hike its by 25 basis points at an upcoming meeting in December, as it remains cautious about global economic uncertainties.
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