Japan retail sales fall short of expectations

Japan’s retail sales grew at their slowest pace in October, while factory output rose. Japan’s retail sales rose at their slowest pace so far this year, while industrial output rose more than expected in the month. Official data showed that Japanese retail sales rose 4.2 percent last month, below economists’ forecasts of a 5.9 percent increase. It was also the smallest gain in Japanese retail sales since December 2022. Japan’s factory output rose 1.0 percent in October, above forecasts for a 0.8 percent increase. The Japanese yen rose 0.20 percent to 146.96 against the dollar.