Japan's industrial production and retail sales fall in August

Japan's industrial production and retail sales declined in August, preliminary figures revealed on Tuesday.

According to a report from the Ministry of Economy, Trade & Industry, industrial production in Japan declined 1.2% month-on-month in August, matching the decline recorded in July, but surpassing the 0.8% fall that was expected based on the consensus forecast cited by FXStreet.

Meanwhile, industrial production slumped 1.3% year-on-year in August, accelerating from a 0.4% drop in the previous month.

Furthermore, the METI said retail sales fell 1.1% month-on-month in August, easing from a 1.6% decline in July.

Retail sales were down 1.1% year-on-year in August, contrasting with a 0.4% increase in the previous month, and missing the 1% increase that was forecast.