apan’s economy is gaining momentum, data for October showed, with consumer prices excluding food and energy rising 0.3 percent from a year earlier, the biggest gain since 1998. However, household spending remained tepid, as incomes slipped from the same month a year before.
The slew of indicators released Friday suggests that the ultra-loose monetary policy and stimulus strategy of Prime Minister Shinzo Abe is helping end a long bout of deflation for the world’s No. 3 economy.
Industrial output rose 0.5 percent in October, the second straight month of increase, driven by increases in production of machinery used to make computer chips and other industrial products, plastics and cellphones.
The government reported that excluding food, the core consumer price index rose 0.9 percent from the year before. Including both food and energy, prices rose 1.1 percent.
Japan’s jobless rate remained flat in October, though the number of jobs available rose slightly.
Further improvement is expected in November, driven by strength in housing construction and exports.
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