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Financial News: Japan Industrial Production Falls 2.1% In March

Japan Industrial Production Falls 2.1% In March

04/27/2017 - 21:05:00 (RTTNews)

(RTTNews) - Industrial output in Japan skidded 2.1 percent on month in March, the Ministry of Economy, Trade and Industry said in Friday's preliminary reading.

That missed forecasts for a fall of 0.8 percent following the 3.2 percent gain in February.

On a yearly basis, industrial production advanced 3.3 percent - again shy of expectations for 3.9 percent and down from 4.7 percent in the previous month.

Also on Friday: . The unemployment rate in Japan came in at a seasonally adjusted 2.8 percent in March, the Ministry of Internal Affairs and Communications said. That was unchanged from the February reading, although it was beneath expectations for 2.9 percent.

The job-to-applicant ratio climbed to 1.45, beating expectations for 1.43, which would have been unchanged from the previous month.

The number of employed persons in March was 64.33 million, an increase of 690,000 or 1.1 percent on year. The number of unemployed persons in March was 1.88 million, a decrease of 280,000 or 13.0 percent on year.

. The average of household spending in Japan was down 1.3 percent on year in March, the Ministry of Internal Affairs and Communications said - coming in at 297,942 yen. That missed forecasts for a fall of 0.5 percent following the 3.8 percent decline in February.

The average of monthly income per household stood at 445,607 yen, down 1.4 percent on year. The average of consumption expenditures per household was 337,075 yen, an annual 0.4 percent.

. Overall nationwide consumer prices in Japan were up 0.2 percent on year in March, the Ministry of Internal Affairs and Communications said - missing forecasts for 0.3 percent, which would have been unchanged.

Core CPI, which excludes fresh food prices, also added an annual 0.2 percent - unchanged and matching forecasts.

On a monthly basis, overall CPI was down 0.1 percent and core CPI was flat.

Overall inflation for the Tokyo region, considered a leading indicator for the nationwide trend, was down 0.1 percent on year in April. That beat forecasts for a fall of 0.2 percent, which would have been unchanged.

Core CPI in Tokyo also was down 0.1 percent versus forecasts for -0.2 percent and up from -0.4 percent in March.

On a monthly basis, overall CPI for Tokyo was up 0.2 percent and core CPI added 0.1 percent.

. Retail sales in Japan were up a seasonally adjusted 0.2 percent on month in March, the Ministry of Economy, Trade and Industry said.

That beat expectations for a decline of 0.3 percent, although it was unchanged from the February reading.

On a yearly basis, retail sales advanced 2.1 percent - again topping forecasts for 1.5 percent after adding just 0.1 percent in the previous month.

Sales from large retailers slipped 0.8 percent on year, beating forecasts for a decline of 1.0 percent after sliding 2.7 percent a month earlier.

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