The Hang Seng Index in
The rush of Japanese economic data for April is out, and while consumer spending and industrial production were a bit of disappointing, the results weren't too far from what economists were expecting.
Perhaps the most important were the inflation figures:
And then there was the core CPI result for metropolitan
But it that was a bullish note in the data, then consumer spending was the bearish reply: Spending by households of two of more people dropped a price-adjusted 4.6% from a year earlier, swinging from a 7.2% jump in March.
This, of course, was due to consumers front-loading their purchases to beat the
On a similar note, industrial output fell 2.5% last month, trailing a forecast 2% drop in a
Large passenger cars led the decline, with the overall drop likely linked to the
Perhaps more important were the manufacturers' own predictions for the month ahead, as inaccurate as they sometimes are: For May, they see industrial output up 1.7%, but for June, they forecast a 2% drop.
Rounding out the statistical parade, the unemployment rate was unchanged for a third month in a row at 3.6%.
In other markets;
Singapore's Straits Times Index ducked back 4.86 points, or 0.2%, to 3,295.85
New Zealand NZX 50 index gave back 4.73 points, or 0.1%, to 5,178.44
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