Japan's factory output expanded for the first time in four months in Februa...
TOKYO - Japan’s factory output expanded for the first time in four months in February, though the rebound was relatively weak and the overall outlook for the sector and businesses suggested a record postwar economic growth phase may be coming to an end.
Data by the Ministry of Economy, Trade and Industry showed factory output rose 1.4 percent, led by production of cars and semiconductor production equipment, topping a 1.0 percent increase seen in a Reuters poll of economists. However, it barely recouped a revised 3.4 percent slump seen in January. “Allowing for the usual upward bias in those projections, they point to broadly flat output over the next two months. That means that industrial production may have plunged by around 3 percent in the first quarter,” said Marcel Thieliant, senior Japan economist at Capital Economics.
The growing strains on businesses and consumers could bring an end to Japan’s longest post-war economic expansion, as the effects of prime minister Shinzo Abe’s stimulus policies wane.Friday’s batch of data follows a recent series of weak indicators, including exports and a leading gauge of capital expenditure, raising the risk of a sharp downturn for the world’s third-largest economy.
The Sino-U.S. trade war has also had a negative effect on domestic growth, as a slowing Chinese economy curbed demand for mobile phone parts and chip-making equipment from Japan. Uncertainty over Britain’s exit from the European Union and jittery global financial markets have added to a growing list of worries for policymakers.
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