JAPAN DATA: Shipments of consumer electronics in the domestic
market rose 10.8% on year to Y142.2 billion in January, posting gains
for eight months in a row, data released by the Japan Electrical
Manufacturers’ Association show. The rate of increase continued to
decelerate from +18.2% y/y in December and +29.8% in November. Shipments
of refrigerators fell 20.1% y/y as the government unwound some of its
stimulative measures. Meanwhile, shipments of air conditioners/heaters
rose 48.8% thanks to freezing temperatures in January.