Japan Industrial Production Growth Misses Consensus Ahead of BOJ
- Quarterly output drop could weigh on third quarter growth
- Labor market marginally tightens in positive for central bank
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Japan’s industrial production rebounded at a pace that was weaker than expected, ahead of a closely watched Bank of Japan policy meeting.
Factory output increased 0.2% in September from a month earlier, the industry ministry said Tuesday, missing economist expectations of a 2.5% gain. Automakers supported the rise, while production machinery output dragged on the overall figures. The reading fell 4.6% compared with a year earlier. Output in the July-September quarter retreated 1.3% from the previous period.