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Japanese monthly Industrial Production fell short of growth expectations in December, printing at 1.8% MoM compared to the market's median forecast of a rebound to 2.4% and failing to pull further away from November's -0.9% print.
Annualized Japan Industrial Production likewise showed further deceleration, with the YoY figure coming in at -0.7% for the year ended December, improving from the previous period's -1.4% but still etching in additional declines.
The Industrial Production released by the Ministry of Economy, Trade and Industry measures outputs of the Japanese factories and mines. Changes in industrial production are widely followed as a major indicator of strength in the manufacturing sector. A high reading is seen as bullish for the JPY, whereas a low reading is seen as bearish.
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