Japan factory output to post first rise in 4 mths as bottlenecks ease: Reuters poll

26/11/2021 9:23:00 AM

Japan factory output to post first rise in 4 mths as bottlenecks ease: Reuters poll

Japan factory output to post first rise in 4 mths as bottlenecks ease: Reuters poll

TOKYO : Japan's factory output probably rose in October for the first time since June, while retail sales likely posted the first growth in three months helped by eased COVID-19 restrictions, a Reuters poll showed.The stronger data suggests the recovery is gaining more traction, boding well for policymake

TOKYO : Japan's factory output probably rose in October for the first time since June, while retail sales likely posted the first growth in three months helped by eased COVID-19 restrictions, a Reuters poll showed.The stronger data suggests the recovery is gaining more traction, boding well for policymakers who hope a burst of household spending and solid business activity will bring the economy back to pre-pandemic levels by early 2022. Japan's recovery from the health crisis has been tepid compared with other major economies.

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LinkedIn TOKYO : Japan's factory output probably rose in October for the first time since June, while retail sales likely posted the first growth in three months helped by eased COVID-19 restrictions, a Reuters poll showed.LinkedIn TOKYO : Japan's government will unveil on Friday its first extra budget for this fiscal year ending March to ease the pain of the COVID-19 pandemic, with spending worth 36 trillion yen (US$312.Fumio Kishida 100th Prime Minister of Japan TOKYO (AP) — The leaders of Japan and Vietnam expressed serious concern on Wednesday about the situation in the South China Sea and any unilateral actions aimed at altering the status quo, and agreed to work together to sustain free and open sea lanes as tensions escalate in the region amid China's rise.LinkedIn TOKYO : Japan is set to craft an extra budget for fiscal 2021 on Friday, featuring spending of US$313 billion, a draft seen by Reuters showed, while keeping market issuance of interest-bearing bonds steady as it focuses efforts to ease the blow from the coronavirus pandemic.

The stronger data suggests the recovery is gaining more traction, boding well for policymakers who hope a burst of household spending and solid business activity will bring the economy back to pre-pandemic levels by early 2022. Japan's recovery from the health crisis has been tepid compared with other major economies. Prime Minister Fumio Kishida's cabinet is expected to approve the budget plan on Friday, including additional government bond issuance totalling 22. The world's third-largest economy contracted much faster than expected in July-September, but is expected to rebound in the current quarter. He did not mention China by name. The government last week announced a record US$490 billion economic stimulus to sustain the recovery. (US$1=115. Industrial output data was expected to expand 1.7 trillion yen in spending.

8per cent month-on-month in October, bouncing from a 5. China, which claims most of the South China Sea as well as Japanese-held islands in the East China Sea, says it has the right to defend its sovereignty, security and development interests.4per cent fall the previous month, according to a Reuters poll of 18 economists. "Shortage in car components is gradually easing," said Shumpei Fujita, an economist at Mitsubishi UFJ Resarch and Consulting. Manufacturers of cars - Japan's No. Japan will also support a strengthening of Vietnam's maritime law enforcement capabilities by accelerating aid for construction of patrol vessels.1 export item - such as Toyota Motor and Nissan Motor have slashed production plans due to supply chain disruptions in coronavirus-hit Asian factories. The ministry intends to avoid a drastic review of market issuance of JGBs by cutting fiscal investment and loan programme (FILP) agency bonds to offset any increase in market issuance of interest-bearing JGBs.

The country's industrial output has been in contraction for three months since July. With automakers' output cuts appearing to have already moved past the worst period, production as a whole is on the path to recovery, Fujita said. Details of the transfer of specific equipment, possibly naval vessels, are still being discussed. Separate data is likely to show retail sales grew 1.1per cent in October from a year earlier, following a 0.6per cent fall in September, the poll showed. The remainder are treasury bills, to be used to adjust any excess or deficiency, depending on the supplementary budget.

Analysts said retail sales have gained from coronavirus curbs being lifted in October, yet a full recovery in sectors battered hard by the pandemic such as face-to-face services will take more time. The government will release retail sales data on Nov. 29 at 8:50 a.m. (2350 GMT, Nov.6 trillion yen.

28) and factory output figures on Nov. 30 at 8:50 a.m. (2350 GMT, Nov. 29.

) Jobs data, due on Nov. 30 at 8:30 a.m. (2330 GMT, Nov. 29), is forecast to show the unemployment rate standing at 2.

8per cent and the job-to-applicants ratio at 1.17 in October, mostly unchanged from the prior month, the poll showed. (Editing by Jacqueline Wong) .