Japan industrial production declined -4.6% mom in January, much worse than expectation of -2.6% mom.
Upon the release of the data, the METI downgraded its assessment of industrial production, saying that it has weakened. Never the less, the ministry forecast industrial production to bounce back by 8.0% in February, and then a further 0.7% in March.
Retail sales rose 6.3% yoy, above expectation of 4.0% yoy.
