Business Aug 31, 2022
Japan's factories expand output for a second month in July
Factory output rose a seasonally adjusted 1% in July from a month earlier, extending the prior month's near double-digit surge.
Factory output rose a seasonally adjusted 1% in July from a month earlier, extending the prior month's near double-digit surge.
The world's third-largest economy ran a current account deficit of ¥132.4 billion ($980 million) in June, government data showed.
The data, which was stronger than the median estimate for a 1.5% rise, showed people spent less on fish and vegetables, while also spending more on transportation.
The yen's slide to a more than two-decade low this year has hit Japan's farmers hard, making the already high cost of imported feed, fuel and fertilizer even more difficult to afford.
Households are also facing pressure from the yen's sharp decline that is pushing up prices of imported fuel and food.
The world's third-largest economy is at risk of being hobbled by slowing economic growth in China and a surge in global raw material prices.
The gain followed a revised 9.7% increase in March, and was higher than a median market forecast for a 9.4% increase.
The core consumer price index, which excludes volatile fresh food prices but includes fuel and broader energy costs, jumped 0.8% in March from a year earlier.
Concern is growing over the fate of annual talks between Tokyo and Moscow to set the quota for Japan to catch salmon and trout born in the Amur River.
On top of changing ingredients or reducing portion sizes, firms have implemented unusual price hikes to goods such as cooking oil, snacks and popular instant noodle brands.