JAPAN DATA: The index for private consumption integrated estimates,
which is closely correlated to personal consumption in GDP, rebounded
2.0% on month in November to a seasonally adjusted 109.1, posting the
first m/m rise in three months after -1.8% in October, -0.6% in
September and +0.7% in August, the Cabinet Office said late on Tuesday.
Akiyoshi Takumori, chief economist at Sumitomo Mitsui Asset Management,
said these figures came in as expected. He forecast the October-December
GDP shrank by a real 0.5% q/q (annualized -2.0%), which would be the
first drop in five quarters, after +1.1% q/q (annualized +4.5%) in Q3
and +0.7% (annualized +3.0%) in Q2. Preliminary Q4 GDP is due out on
Feb. 14.