Japan’s industrial output swings to gain in April

Japan’s industrial production bounced back modestly in April after suffering a record-breaking tumble in March, while the unemployment rate rose modestly, and household spending slowed its fall. Industrial production rose a seasonally adjusted 1.0% during April, after output fell 15.3% in March, the worst drop in the history of the data set. Japan’s jobless rate increased to 4.7% from March’s 4.6%. In March, household spending had plunged by 8.5% year-on-year.