By Reuters Staff
2 Min Read
TOKYO (Reuters) - Japan’s industrial production likely grew for the first time in three months in January as manufacturing activity picked up globally, a Reuters poll found on Friday, offering a glimmer of hope for an economy battered by the coronavirus pandemic.
FILE PHOTO: Smoke rises from a factory during the sunset at Keihin industrial zone in Kawasaki, Japan, January 16, 2017. REUTERS/Toru Hanai
But retail sales, a key gauge of consumer spending, probably contracted for a second straight month, suggesting the pandemic continued to dampen consumption, the poll showed.
Analysts expect the economy in the current quarter to shrink as a local state of emergency in some areas, including Tokyo, to contain coronavirus cases hit businesses and consumers.