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Publish Date30/11/2012 12:36:06 AM
Last Update30/11/2012 06:27:16 AM
Japan released Friday several key economic data that highlighted Asia`s news for the day. The world`s third-largest economy demonstrated stable performance in October, as consumer prices held unchanged after five months of dropping, as we as industrial output that rose unexpectedly.
Japan’s National Consumer Prices Index in October recorded an actual -0.4%, comapred with a previous -0.3% a year earlier, while analysts’ expectations were -0.4%.
Meanwhile, National Consumer Price Index Excluding Fresh Food recorded 0.0% in October, compared with analysts’ expectations and previous reading of -0.1%.The National Consumer Price Index Excluding Food, Energy reading came with -0.5 in October after -0.6% and expected -0.5% amonth earlier.
Today’s consumer prices reading affirmed that the targeted 1% inflation goal remains distant, which will continue to add pressure on BOJ Governor Masaaki Shirakawa to add further monetary stimulus in the upcoming policy meeting.
Japan`s industrial production rsoe 1.8% in October, compared with last month’s 4.1% drop and analysts’ expectations of -2.0%.
The annualized industrial production recorded an actual -4.3%, compared with a previous reading of -8.1% and analysts’ expectations of -8.0%.
Japan`s economy suffer woes of fears of slipping into recession in the period ahead, according to analysts` expectations, especially when looking at the global slowdown and dispute with China over territories.
However, the Japanese economy is expected to return to growth track during the first quarter of the next year despite the previous negative signs, where it’s expected to be supported also by the U.S. economy stability and China’s rebound during the upcoming period.
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