Japanese Industrial Output Drops But Optimism Remains

Japan’s industrial output slid 0.7 percent in August after a hefty gain the previous month, but company production forecasts indicate that factory output and the broader economy are still on track to steady recovery.

A separate survey showed manufacturing activity expanded in September at the fastest pace since the March 2011 earthquake, highlighting the strength of an economy backed by rising exports and firm domestic demand.

Other data out on Monday also signalled consumer spending gaining momentum. Retail sales rose 1.1 percent in August from a year earlier and housing starts rose 8.8 percent, up for 12 months in a row, although housing starts were below the 12.7 percent gain seen in a Reuters poll.

via Reuters

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