Japan data - Industrial Production for December 2019 (final) 1.2% m/m (prelim 1.3%)

Japan Industrial Production

final 1.2% m/m

• preliminary was 1.3% m/m, prior -1.0%

final -3.1% y/y

• preliminary was -3.0% y/y, prior -8.2%

Capacity utilization is -0.4% (prior -0.3%)

We got the Q4 GDP earlier, the flash reading, very poor indeed and Q1 is not likely to be much improved given developments since:

• Japan GDP, preliminary for Q4 2019: -1.6% q/q (vs -1.0% expected