Japanese manufacturers increased production at the fastest pace since May and retail sales snapped a 16-month slump, signaling the recovery is intact even as the government calls for more action to fight deflation.
Factory output rose 2.5 percent in January from a month earlier, the 11th straight gain and the longest streak in more than 12 years, the Trade Ministry said today in Tokyo. Retail sales unexpectedly jumped 2.6 percent from a year earlier.
A key gauge of consumer prices slid for an 11th month, prompting Finance Minister Naoto Kan to repeat a request for the Bank of Japan to “find various ways” to end deflation.
For more FXEconostats
