Japan - February preliminary Industrial production
-3.4 % m/m,

  • expected -1.5%m prior was +3.7%

-2.6 % y/y,

  • expected -0.6%, prior was -2.8%

Industrial production y/y bumbling along around and under zero ... despite all the talk and monetary stimulus

More:

  • Production and Shipments decreased
  • Inventories and Inventory Ratio increased
  • According to the Survey of Production Forecast in Manufacturing, Production is expected to decrease in March and increase in April
  • Industrial Production shows signs of increase at a moderate pace

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Further - Outlooks from the Ministry of Economy, Trade and Industry release

  • Japan manufacturers see March output -2.0 pct m/m (prev forecast: -3.2 pct)
  • Japan manufacturers see April output +3.6 pct m/m

USD/JPY barely changed on the release