Preliminary Industrial Production (September) from Japan
+1.0% m/m,
- Expected -0.6%, and Prior -1.2%
-0.9% y/y,
- Expected -2.6%, prior -0.4%
Also, 'outlooks' from Japanese manufacturers:
- See output for October +4.1% m/m (vs. prior forecast at +4.4%)
- See November output -0.3% m/m
Meanwhile ....
- The Japanese government upgrades is its assessment for industrial output
- Says output is moving sideways
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Yen is being marked higher (i.e. USD/JPY lower) as the improvement and above expected result decreases the perception of the likelihood of BOJ easing tomorrow
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Via FastFT.
- First m/m gain in 3 months
- The unexpected strength could help keep the Japanese economy out of a recession in the third quarter. Either way, it adds to the case for holding policy steady when the BoJ meets.
