Japan May all industry activity index +0.3% vs +0.3% m/m expected
Latest data released by METI - 19 July 2019
- Prior +0.9%; revised to +0.8%
Slight delay in the release by the source. The data is often referred to as the monthly GDP reading, it's a tracker production across all sectors of the Japanese economy and follows the GDP growth figures/trend.
Despite some sluggish trade data over the past few months, the readings in April and May (today) suggests that there are some improvements in the Japanese economy in Q2. That will provide lawmakers and policymakers with some relief but they're not likely to be able to escape the more sour outlook surrounding the global economy as of late.
USD/JPY holds at session highs near 107.60 currently with the dollar still a little bid alongside higher Treasury yields on the session.