Japan industrial production dropped -1.6% mom in December, below expectation of -1.5% mom. Though, on the bright side, manufacturers surveyed by the Ministry of Economy, Trade and Industry (METI) expected output to rebound 8.9% in January and decline 0.3% in February. The government also maintained that industrial production was picking up.
Also from Japan, unemployment rate was unchanged at 2.9% in December, better than expectation of a tick up to 3.0%. Tokyo CPI core improved to -0.4% yoy in January, up from -0.9% yoy, above expectation of -0.6% yoy.
