Japan industrial production rose 7.2% mom in November, well above expectation of 4.8% mom. That’s the biggest gain on record, going to back to as early as 1978. Comparing to the same month of 2020, industrial production was up 5.4% yoy.
Based on a poll of manufacturers, the Ministry of Economy, Trade and Industry expects output to advance 1.6% in December and climb 5.0% in January.
Also released, unemployment rate edged up to 2.8% in November, from October’s 2.7%.
