TOKYO (Reuters) – Japan’s factory output rose 3.8% in March from the previous month, versus the median market forecast for a 3.5% rise, government data showed on Tuesday.
Manufacturers surveyed by the Ministry of Economy, Trade and Industry expect seasonally adjusted output to increase 4.1% in April and expand 4.4% in May.
Separate data showed Japanese retail sales expanded 1.2% in March from a year earlier. The result was below the median market forecast for a 2.2% rise but marked the 25th consecutive month of expansion.
Compared with the previous month, retail sales shrank 1.2% in March, following a 1.7% gain in February, the data showed.
(Reporting by Satoshi Sugiyama; Editing by Chang-Ran Kim and Christopher Cushing)
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