Japan’s factory production edged up in October, ending a three-month slide and adding to signs that the global supply chain crunch may have been easing before the emergence of the omicron variant of the coronavirus.
Higher output of cars and factory equipment lifted overall production 1.1% from September, the economy ministry reported Tuesday. Manufacturers said they plan to boost output again this month and next, a good sign for Japan’s recovery this quarter. Analysts had expected a 1.9% increase in October.
A separate report showed continued resilience in the labor market, with the unemployment rate ticking down to 2.7% and a measure of demand for workers showing positions on offer still outnumbering job seekers.