Japan's Jan factory output beats expectations, inventories rise

Japan's factory output rose more than expected in January, in a sign of rel...

TOKYO - Japan’s factory output rose more than expected in January, in a sign of relief for an economy facing heightened risks of slipping into a recession as the coronavirus outbreak in China disrupts supply chains and business activity.

Official data showed factory output rose 0.8% in January from the previous month, a faster expansion than the 0.2% gain in a Reuters forecast. That followed a downwardly revised 1.2% rise in the previous month, the first advance in three months. Production was lifted by a sharp increase in output of cars and other transport equipment, which offset a decrease in output of production machinery, the data showed.

Friday’s data batch follows a string of weak indicators in recent weeks, including manufacturing and service sector activity gauges indicating the fallout from the new coronavirus outbreak has taken a toll on the economy.

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