TOKYO—Japan’s factory output fell in September for the first time in four months as manufacturers grappled with rising raw materials costs and global economic slowdown, and is likely to fall again next month before picking up in November, the government said.
In a brighter sign for the world’s third-largest economy, retail sales grew for a seventh consecutive month, raising hope for a sustainable boost in consumption after the easing of COVID-19-related inbound border controls earlier in October.
“While private consumption will continue its recovery from an easing COVID-19 situation and economic reopening, production may stall as worsening overseas economies hit Japanese exports,” said Masato Koike, senior economist at Dai-ichi Life Research Institute….