In November, Japan experienced its first decline in industrial production in three months, despite an acceleration in retail sales growth, according to separate reports released Friday by the Ministry of Economy, Trade and Industry.
Industrial production saw a seasonally adjusted decrease of 2.3 percent month-on-month for November, reversing a 2.8 percent gain in October. Economists had predicted a more significant drop of 3.4 percent. Compared to the previous year, industrial production decreased by 2.8 percent, following a 1.4 percent increase noted in October.
Shipment levels fell by 2.7 percent on a monthly basis and 3.8 percent annually. Similarly, inventories reduced by 0.9 percent month-on-month and dropped 2.1 percent year-on-year. Contrastingly, the inventory ratio saw a monthly rise of 3.2 percent.
Retail sales demonstrated enhanced annual growth, accelerating to 2.8 percent in November from 1.3 percent in October. On a monthly basis, retail sales rebounded by 1.8 percent after a 0.2 percent decline in the previous month.
Within the retail sector, the textile, clothing, and personal goods categories saw a significant annual increase of 10.7 percent in November, while other retail sectors experienced a growth of 5.7 percent.
Additionally, Tokyo's headline consumer price inflation increased to 3.0 percent in December, up from 2.6 percent in November, as reported by the Ministry of Internal Affairs and Communications. Excluding fresh food and energy, core inflation rose to 2.4 percent in December compared to 2.2 percent in November.
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