🇯🇵Japan Economy: Industrial Production Unexpectedly Rises, Inflation Holds Above Target

💼 Industrial Production

Japan October Industrial Production က

+1.4% m/m တက်လာပြီး

Market Forecast –0.5% drop ကို တစ်ချက်တည်း override လုပ်ခဲ့တယ်။

• Previous (September) = +2.6% (ဒီတစ်ခါနည်းသွား)

• YoY Basis = 0.8% (Sept = 2.5%)

Shipments & Inventories

• Shipments +1.3%

• Inventories +0.6%

• Inventory Ratio –1.3%

Economy, Trade and Industry Ministry အဆိုအရ

Industrial production က fluctuating ဖြစ်နေပြီး

Forecast မော်ဒယ်အရ Nov + Dec မှာ production decrease ဖြစ်နိုင်တယ်။

🛍

Retail Sales

October Retail Sales

• +1.6% m/m (Sept = 0%)

• +1.7% YoY (Forecast = 0.8%)

• September YoY = 0.2%

➡️ Retail side က consumer spending တက်လာနေတာမို့

Domestic demand recovery အကောင်းလေး ပြသနေပါတယ်။

📊

Inflation & Employment

Tokyo Headline Inflation — 2.7% (unchanged)

Tokyo Core Inflation — 2.8% (unchanged)

➡️ Both remain above BOJ target (2%)

Unemployment Rate — 2.6% (unchanged)

🏠

Housing Starts & Construction

Housing Starts

• +3.2% (unexpected rise)

• September = –7.3%

• Forecast = –5.0%

Construction Orders

• –10.1% (first decline in 3 months)

• September = +34.7%

➡️ Housing sector slightly improving but construction orders cooling down again.

🧠

Economist View — ING (Min Joo Kang)

ING Economist အဆိုအရ—

• Japan economy က Q3 contraction အပြီး gradual recovery ပြန်လုပ်နေ

• Core inflation က

  Weak yen + Strong wage growth ကြောင့်

  current level (around ~2.8%) မှာပဲ ထပ်တိုးမကျနိုင်သေး။