TOKYO: Japan’s industrial production was unchanged in September from a month earlier, falling short of forecasts, in the latest snapshot of Japan’s economy as the central bank board gathers to consider monetary policy. Retails sales were also unchanged, reflecting sustained weakness in consumer spending.
The BOJ starts a two-day meeting on Monday during which it will review its inflation outlook and monetary policy. A stronger yen and softer external demand this year have buffeted Japanese exports, which have fallen in each of the past 12 months. This has weighed on industrial production and frustrated efforts by the central bank and Prime Minister Shinzo Abe to revive the nation’s economy. The yen has gained about 15 percent against the U.S. dollar in 2016, hurting exporters’ earnings and discouraging companies from increasing spending. Some economists say exports appear to have bottomed out, and the yen has retreated around 3 percent over the past month.
