(Finance) – Positive data is coming from Japan, where consumer confidence and retail sales have accelerated, while production has suffered a smaller-than-expected setback.
According to the preliminary estimate of the Japanese Ministry of International Trade and Industry (METI), the industrial production, in June 2024recorded a decrease of 3.6% on a monthly basis, after the +3.6% recorded in May. The analysts’ estimates but I am in favour of a broader decline 4.2%. The two-month projections indicate a jump of 6.5% in July and a stabilization at +0.7% in August.
Retail sales rose more than expected in June 2024which according to data released by the Ministry of International Trade and Industry (METI) are up 3.7% on an annual basis, more than the estimated 3.3% by analysts and 2.8% in May (revised from a preliminary forecast of +3%).
Consumer sentiment also improvesAccording to the Economic and Social Research Institute of the Cabinet Office of Japan, the confidence index it settled in July 36.7 pointsfrom 36.4 in June and exceeds the estimates of consensus (36.5).