manassanant pamai
Industrial production in Japan grew by 2.8% month-over-month in May 2024, beating market forecasts of 2.0% while shifting from a 0.9% fall in the prior month, flash data showed.
Yearly, industrial output rose by 0.3% in May, pointing to the first expansion in seven months.
In a separate release, Japan’s unemployment stood at 2.6% in May 2024, holding steady for the fourth straight month and matching market forecasts.
The number of unemployed edged down by 10 thousand to 1.82 million, while employment added 10 thousand to a three-month top of 67.61 million.
The jobs-to-applications unexpectedly fell to 1.24 in May from the prior 1.26, marking the lowest level in two years.
The Japanese yen weakened to around 161 per dollar, breaching that level for the first time since 1986 as the Ministry of Finance appointed Atsushi Mimura as Japan’s top currency diplomat, replacing Masato Kanda.
Nikkei 225 (NKY:IND) jumped 0.4% to above 39,486 on Friday, amid strong data.