Wednesday, 11 December 2013

Japanese machinery orders rebound, Chinese industrial production slows

Data on Wednesday showed that Japan's core machinery orders rebounded slightly in October, rising 0.6 percent after having fallen 2.1 percent in September.

Data on Tuesday had shown that Japanese consumer confidence also rebounded slightly in November, with the Cabinet Office's index rising 1.3 points to 42.5 after having fallen 4.2 points in October.

However, another report on Tuesday showed that confidence among Japan's large companies weakened in the fourth quarter. A survey conducted by the Ministry of Finance and the Cabinet Office showed that the sentiment index for large firms fell to 8.3 points from 12 points in the third quarter.

There were also mixed data from China on Tuesday. Industrial production rose 10.0 percent in November from a year ago, down from the 10.3 percent increase in October. Fixed asset investment increased 19.9 percent year-on-year in the first 11 months of this year, down from an increase of 20.1 percent for the first 10 months.

However, retail sales rose 13.7 percent in November from a year ago, better than the 13.3 percent increase in October.

In Europe, data on Tuesday showed that the UK economy maintained momentum in October. Industrial production rose 0.4 percent in October while the trade deficit narrowed.

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