Japan industrial production growth disappoints

The September figure was below market estimate of -7.1%.

OCBC Treasury Research noted:

Industrial production growth slipped to -8.6% yoy in September, below market estimate of -7.1% and previous month’s -4.6% readings. This has continued to fuel expectations of BOJ possibly expanding its monetary policy stimulus, even if unemployment rate holds steady at 4.2% in September. Note that Economy Minister Maehara has continued to put pressure on the BOJ to deliver more monetary stimulus, given the weak production that has sustained in the economy.

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