Economics
Japan’s Output Unexpectedly Slumps as Retail Sales Rise
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Japan’s output unexpectedly fell while stronger retail sales and an improving job market showed resilience in the world’s third-biggest economy as Prime Minister Shinzo Abe weighs another sales-tax increase.
Industrial production declined 1.5 percent in August from July, compared with the median estimate of economists surveyed by Bloomberg News for a 0.2 percent gain. Retail sales increased 1.9 percent and the jobless rate slid to 3.5 percent.