Production in the large Japanese industry rose by 8% in July compared to the previous month. The Japanese government reported that on the basis of preliminary figures. The car industry, particularly badly hit by the corona crisis, was doing a good job.
It is the largest growth since the start of measurements in 1978. Economists, on average, expected a growth rate of 5%. Japan’s industry, which is largely dependent on exports, has been hit hard by the global crisis caused by the coronary artery disease in recent months. Compared to a year earlier, there was still a strong contraction, with more than 16%.
Retail sales in Japan fell by 3.3% in July compared to a month earlier, stronger than the average experts had predicted. Compared to last year, sales went down by 4.2%.