Tokyo: Japan’s factory output picked up in February while the jobless rate stayed low, official data showed on Friday as the world’s third largest economy continues a solid expansion. Factory output rose 4.1 per cent month-on-month, according to industry ministry data, falling short of market expectations of a five-per cent rise but up from the 6.8 per cent plunge in January.
“It has not changed that the Japanese economy continues to recover as the global economy recovers gradually,” said Takeshi Minami, chief economist at Norinchukin Research Institute. Minami added that new US metal tariffs were not expected to badly affect the Japanese economy.
“Japanese steel and aluminium products will be spared severe damage as they are not for general purposes but speciality products that user companies are quite dependent on,” he said.
Separate government data showed the labour market stayed tight.
The jobless rate stood at 2.5 per cent in February against 2.4 per cent in January, hovering near the lowest level in 25 years. — AFP
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