A preview of the Japanese April industrial production data coming up at 2350GMT
- expected 1.4% m/m, prior 1.4%
- expected 3.6% y/y, prior 2.4%
Preview via Nomura:
- We expect industrial production to rise for a third straight month in April.
- In the survey of manufacturers' production forecasts carried out on 10 April, the production forecast for April, adjusted for prediction error, was 1.4% m/m
- Exports, which are highly correlated with industrial production, were stronger than expected in April, and from the middle to the end of the month, economic activity appears to have improved, with JPY weakening against USD and the stock market rallying, indicating a strong likelihood that production will come in stronger than the survey of forecasts suggests.
