Japan FinMin Aso (reacts To Industrial Production Data): Government wants to secure Japan’s recovery trend

Following a poor Japan Oct industrial output release of -4.2% MoM – Japan Oct industrial output was expected -2.0% MoM, vs prior 1.7%, Japan Finance Minister Aso reacted and said that the government wants to secure Japan’s recovery trend.

Key comment

• Will consider more funding for cashless support if needed.

Japanese data dump

Japanese data dump, headline CPI: +0.8 PCT YoY (beats 0.4% expected/prior)

• Japan government says there is a weakness in industrial production.
• Japan oct industrial output -4.2% MoM – Japan Oct industrial output was expected -2.0% MoM, vs prior 1.7%.
• Japan manufacturers see Nov output -1.5% MoM (prev forecast: -1.2%). 
• Japan manufacturers see Dec output +1.1% MoM.

Description

The Industrial Production released by the Ministry of Economy, Trade and Industry measures outputs of the Japanese factories and mines. Changes in industrial production are widely followed as a major indicator of strength in the manufacturing sector. A high reading is seen as bullish for the JPY, whereas a low reading is seen as bearish.