TOKYO (Bloomberg): Japan’s cabinet approved a record initial budget for the year starting in April that offers up some measures aimed at promoting Prime Minister Fumio Kishida’s new vision of capitalism, while still adding to the developed world’s largest debt burden.
October’s production gain came as parts shortages from Asia began to ease and car output increased for the first time in four months, a ministry official said.
Sharper production has been falling amid global supply shortages weakening a key pillar of Japan’s recovery and will likely weigh on third quarter growth.