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Japan Jan factory output likely fell for 2nd month on hit from Omicron

by Mike Robinson

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© Reuters. FILEPHOTO: This is a worker cycling near a Kawasaki factory, Japan. February 28, 2017. REUTERS/Issei Kato

By Kantaro Komiya

TOKYO, (Reuters) – Japan’s industrial output fell again in January due to the rapid spread of Omicron COVID-19. A Reuters poll revealed this.

While the coronavirus epidemic is in a decline, current-quarter concerns are growing as uncertainty surrounds the Ukraine-Russia conflict, which has created new worries for an economy heavily dependent on foreign energy, raw material, and manufacturing parts.

The median prediction of 18 economists indicated that January’s industrial production would have fallen 0.7% from December. This is after December’s 1.0% drop.

Shumpei Fujita (NYSE:) Research and Consulting wrote that the COVID-19 Omicron variation outbreak since the beginning of the year caused output cuts for carmakers. They had previously suffered from a shortage of chip and parts.

Major automobile manufacturers include Toyota Motor (NYSE 🙂 Corp. Honda Motor Co Ltd. has reduced their production in Japan due to Omicron disruptions like infected workers or component supply bottlenecks.

Although Japan’s COVID-19 new infections reached their peak in February, deaths continue to rise.

The poll showed that retail sales rose by 1.4% in January, compared to a year before, and then grew 1.2% in December.

On February 28th, 2008, the Ministry of Economy, Trade and Industry (Feb 27th at 2350 GMT) will publish data about industrial production and sales.

The poll showed that Japan’s unemployment rate (and jobs-to-applicants) remained flat in January, compared to the previous month, at 2.7% and 1.16 respectively. March is the deadline for job figures. 4. at 8:30 AM (Mar. 3. 2330 GMT

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