Japan June Industrial Output is Seen Rebounding

A Reuters poll of 13 economists showed that Japanese industrial output likely rebounded in June, indicating that factory activity may have reached the base of the deep recession caused by the pandemic.

A relatively slight recovery in factory production will signal a modest economic recovery in the future.

The Ministry of Economy, Trade and Industry (METI) data released on July 31 is expected to show that factory production increased by 1.2% on a monthly basis in June, rebounding from 8.9% decrease posted in May. Although global demand for durable goods and cars may be touching the bottom.

Separate government data is expected to show the unemployment rate to 3.1% in June from 2.9% the previous month.
The survey showed that retail sales experienced a 6.5% decrease in the year to June, after a 12.5% decrease the previous month