Both IP and retail outperformed:

  • industrial output m/m didn't drop by as much as expected
  • retail sales y/y beat the median estimate
Japan industrial output retail sales November 2023

Japanese manufacturers' forecasts:

  • expect December output at +6.0% m/m (prior forecast was +3.2%)
  • expect January output at -7.2% m/m

---

USD/JPY is down a few ticks, circa 141.43