Japan’s March factory output rises 3.8% vs month earlier

JAPAN’S factory output rose 3.8 per cent in March from the previous month, versus the median market forecast for a 3.5 per cent rise, government data showed on Tuesday.

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

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

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