Japan FinMin Aso (reacts to Industrial Production data): Government wants to secure Japan’s recovery trend
|Following a poor Japan Oct industrial output release of -4.2% MoM – Japan Oct industrial output was expected -2.0% MoM, vs prior 1.7%, Japan Finance Minister Aso reacted and said that the government wants to secure Japan’s recovery trend.
Key comment
- Will consider more funding for cashless support if needed.
Japanese data dump
Japanese data dump, headline CPI: +0.8 PCT YoY (beats 0.4% expected/prior)
- Japan government says there is a weakness in industrial production.
- Japan oct industrial output -4.2% MoM – Japan Oct industrial output was expected -2.0% MoM, vs prior 1.7%.
- Japan manufacturers see Nov output -1.5% MoM (prev forecast: -1.2%).
- Japan manufacturers see Dec output +1.1% MoM.
Description
The Industrial Production released by the Ministry of Economy, Trade and Industry measures outputs of the Japanese factories and mines. Changes in industrial production are widely followed as a major indicator of strength in the manufacturing sector. A high reading is seen as bullish for the JPY, whereas a low reading is seen as bearish.
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