The Ministry of Economy, Trade and Industry (METI) said on Friday that Japanese industrial production rose 4.0% in January, the second straight on-month increase, an indication that industrial activity is continuing its gradual recovery on the back of strong exports to Asia and the US. Looking ahead, the METI projects output will rise 0.2% in February from the previous month and then decrease 3.2% in March, based on surveys of companies. The ministry maintained its assessment of production activity, saying that output is on a gradual recovery path.
Separately, the data released by the Ministry of Economy Trade and Industry showed Japanese retail sales fell 2.0% in January from a year earlier, marking first decline in seven months, as bad weather and a continued decline in real incomes kept workers from spending.
Government data released on Friday showed that on-year growth in the core consumer price index--stripping out volatile fresh-food prices and an increase in the sales tax last year--slowed to a 0.2% increase in January from a 0.5% rise in the previous month.
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