Japan March factory output rises 3.8% vs month earlier

By Thomson Reuters Apr 29, 2024 | 7:07 PM

TOKYO (Reuters) – Japan’s factory output rose 3.8% in March from the previous month, versus the median market forecast for a 3.5% rise, government data showed on Tuesday.

Manufacturers surveyed by the Ministry of Economy, Trade and Industry expect seasonally adjusted output to increase 4.1% in April and expand 4.4% in May.

Separate data showed Japanese retail sales expanded 1.2% in March from a year earlier. The result was below the median market forecast for a 2.2% rise but marked the 25th consecutive month of expansion.

Compared with the previous month, retail sales shrank 1.2% in March, following a 1.7% gain in February, the data showed.

(Reporting by Satoshi Sugiyama; Editing by Chang-Ran Kim and Christopher Cushing)