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Japan's retail sales growth slows, industrial production drops in November

Japan's industrial production declined in November, while the unemployment rate edged up and retail sales growth slowed from the previous month.

The country's seasonally adjusted industrial production index declined by 1.1% to 104.7 in November from the previous month, preliminary data from the Ministry of Economy, Trade and Industry showed. The original industrial production index rose by 1.4% year over year to 108.1 in November.

Shipments in November dropped by 1.4% from the prior month after seasonal adjustments. The index for inventories edged up by 0.2% to 101.5, while the inventory ratio fell by 1.8%.

Meanwhile, retail sales in Japan edged up by 1.0% month over month in November on a seasonally adjusted basis after a revised 1.3% rise in October, a separate release from the ministry showed. On an annual basis, retail sales growth slowed to 1.4% in November from a revised 3.6% gain in October.

Separately, Japan's seasonally adjusted unemployment rate stood at 2.5% in November, edging up by 0.1 percentage point from the prior month, data from the Ministry of Internal Affairs and Communications showed.