Japan to suffer 2% dip in industrial production

Four consecutive months of disapppointment.

According to DBS, it believes that growth has continued to deteriorate in the beginning of 4Q, dragged by exports.

Here's more from DBS:

Industrial production is expected to contract -2% MoM sa in October, the fourth consecutive month of decline. Exports fell further by near -3% in October, both in nominal and in real terms.

The METI forecast also points to a -1.5% decline in October’s industrial production. Although exports in other part of Northeast Asia have started to pick up thanks to recovering demand from China, Japan’s exports will likely continue to underperform due to political tensions with China and the weakness of Japan’s export competitiveness.

In the domestic economy, the rate of deterioration in private consumption will likely begin to ease. As of September, automobile sales have already fallen back to the bottom levels in end-2011 prior to the implementation of government subsidies. As the payback process has been largely completed, the downward pressures on retail

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