TOKYO (Reuters) -Japan's factory output fell more than expected while retail sales declined for the first time in over three years in August, government data showed, heightening uncertainties about the economic outlook. Although Tokyo struck a trade deal with Washington, analysts said U.S. tariffs could still affect Japan's production and the global economy, which is keeping the Bank of Japan on edge in terms of when to next raise rates. Industrial output fell 1.2% in August from a month earlier, data ...

Economic Growth Forecast - The Federal Reserve Bank of Atlanta upgraded its economic growth forecast by 0.3 percentage points, predicting a 3.4% annualized gain in GDP during Q3 [3] Consumer Spending Trends - Consumer spending, which accounts for approximately 70% of economic growth, has remained steady despite rising price pressures, a slowdown in hiring, and an increase in unemployment to 4.3% [3] - Spending surged early in the year due to consumers anticipating price increases from high U.S. tariffs, but this trend has waned since May, leading to a modest slowdown in spending [4] Retail Sales Performance - Retail sales exceeded forecasts in August, rising by 0.6% for the third consecutive month, despite job market weaknesses and declining consumer sentiment [7] - Nine out of 13 categories of goods saw gains, with e-commerce sales increasing by 2% and sales at clothing stores and sporting goods shops rising by 1% and 0.8%, respectively [7] Impact of Tariffs - Import taxes have negatively impacted sales, particularly in categories vulnerable to tariffs, such as sports equipment, electronics, and clothing [5] - One in four small businesses reported that tariffs and rising costs have led them to increase prices, indicating consumer anxiety regarding import taxes fueling price gains [6]

Company Performance - Rivian Automotive (RIVN) closed at $13.39, down 2.73% from the previous trading session, underperforming the S&P 500's loss of 0.84% [1] - Over the past month, Rivian's shares have decreased by 12.97%, contrasting with the Auto-Tires-Trucks sector's unchanged performance and the S&P 500's gain of 1.44% [2] - The upcoming earnings disclosure is anticipated, with an expected EPS of -$0.65, reflecting a 46.28% growth year-over-year, and a revenue forecast of $1.29 billion, up 11.22% from the prior-year quarter [3] Annual Forecast - For the entire year, the Zacks Consensus Estimates predict an EPS of -$2.49 and revenue of $5.25 billion, indicating a year-over-year change of +38.37% for earnings and +5.66% for revenue [4] - Recent analyst estimate revisions for Rivian Automotive suggest positive short-term business trends, which are generally viewed as favorable for the business outlook [4] Industry Context - Rivian operates within the Automotive - Domestic industry, which is part of the Auto-Tires-Trucks sector, currently holding a Zacks Industry Rank of 176, placing it in the bottom 29% of over 250 industries [7] - The Zacks Industry Rank is based on the average Zacks Rank of individual stocks in the industry, indicating that higher-ranked industries tend to outperform lower-ranked ones by a factor of 2 to 1 [7]