JAPAN DATA: Monthly data from the Federation of Electric Power
Companies:
–Demand for electricity from major industrial users in Japan
(often used in forecasting industrial production) +2.0% y/y in May, the
3rd straight monthly gain after +5.1% in April.
–Power demand from machinery makers including automakers and
electronics firms +4.5% y/y in May vs. +7.6% in April.
–Demand from iron and steel makers +5.8% vs. +11.8% in April.