Japan’s industrial production rose 0.60 percent in November from a month earlier, trade ministry data showed on Thursday.
The industrial output rises more than expected as robust overseas demand continues to support factory activity, reports Reuters.
The 0.6 per cent increase in industrial output in the month was more than the median market projection for a 0.5 per cent rise and followed a 0.5 per cent gain in October.
The government raised its assessment of industrial output, saying it is recovering. Previously the government said output was only showing signs of a recovery.
Manufacturers surveyed by the Ministry of Economy, Trade and Industry expect output to rise 3.4 per cent in December but fall 4.5 per cent in January.
Japanese retail sales rose 2.2 per cent in November from a year earlier, more than the median forecast for a 1.2 per cent increase, government data showed on Thursday.
Japan’s economy recorded seven straight quarters of expansion in the third quarter, the best uninterrupted run of growth since 1994.
“We estimate that GDP growth will come to an annualised 0.7 per cent quarter-on-quarter in Q4,” economists at Barclays said in a research briefing.
“We note, however, that foreign demand could be higher than we are predicting given the results of recent indicators. We believe growth could reach a strong annualised pace of around 1.5 per cent quarter-on-quarter, depending on economic data for December.”