Japan’s industrial production rises more than expected in August

According to official data, Japan’s industrial production grew by 2.7% in August compared to July, marking the third consecutive month of growth.

This number clearly exceeded expectations for a 0.2% increase in a Reuters poll.

Retail sales jumped 4.1% in August from a year ago, topping Reuters’ forecasts for a 2.8% rise.

Initial estimates showed that Japan’s economy grew during the second quarter of the year by 2.2% annually, and this increase in Japan’s annual gross domestic product came less than expectations of 2.5%.