Japan Industrial Production, preliminary for January -4.6% m/m (expected -2.9%)

While retail sales data from Japan were a solid beat, industrial output is not looking so encouraging:

Japan Industrial Production January preliminary comes in at -4.6% m/m

• biggest drop in 8 months
• expected -2.9%, prior +0.3%

for the y/y, comes in at -2.3%

• expected -0.7%, prior -2.4%

Manufacturers in Japan see

• February output at +8% m/m, up from +4.1% the previous forecast
• March output at +0.7% m/m