Tags: AS | Japan | Economy

Japan Economy's Vital Signs Dull in March, but Views Upbeat

Japan Economy's Vital Signs Dull in March, but Views Upbeat

Friday, 28 April 2017 04:35 AM EDT

TOKYO (AP) — Japan reports that its manufacturing output and household spending fell in March, while the jobless rate remained at a 22-year low.

The data released Friday generally were slightly weaker than analysts had forecast, though the outlook for the world's third-largest economy remained upbeat.

Here are a few highlights from the data, and their implications:

FACTORY OUTPUT: Industrial output fell 2.1 percent from February but was up 3.3 percent from the same month a year earlier. But manufacturers were forecasting a relatively strong 8.9 percent increase in April.

INFLATION: Core inflation, which excludes volatile fresh food prices, rose 0.2 percent, well below the central bank's official target of 2 percent but still the third straight month of increase.

UNEMPLOYMENT: Unemployment was unchanged from February at 2.8 percent, while the number of jobs available per worker seeking work rose to 1.45, the highest rate since November 1990.

WAGES AND HOUSEHOLD SPENDING: Household spending fell 1.3 percent from the month before and 2.0 percent from March 2016, while household average incomes adjusted for inflation fell 1.1 percent from a year earlier. Anemic growth in wages and worries over future cuts to pensions and other social spending are constraining the consumer spending that drives growth in Japan.

OUTLOOK: In a policy statement issued Thursday, the Bank of Japan said it expected steady growth in the coming year. It said the economy was in a "modest expansion" helped by a recovery in exports and increased public works spending ahead of the 2020 Tokyo Olympics.

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Asia
Japan reports that its manufacturing output and household spending fell in March, while the jobless rate remained at a 22-year low.The data released Friday generally were slightly weaker than analysts had forecast, though the outlook for the world's third-largest economy...
AS,Japan,Economy
251
2017-35-28
Friday, 28 April 2017 04:35 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved