Japan data for September 2023:
Preliminary Industrial Production +0.2% m/m … very disappointing
- expected 2.5%, prior -0.7%
- fo the y/y -4.6% (exp -2.3%, prior -4.4%)
- forecast 1 month ahead is +3.9% (prior +5.8%)
- forecast 2 months ahead is -2.8% (prior +3.8%)
Retail sales for September +5.8% y/y and a small miss
- expected +5.9%, prior +7.0%
After the statement later today we’ll hear from Bank of Japan Governor Ueda at 0630 GMT.