Japanese output data disclosed - BBH

FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman noted that Japan published a final estimate for May industrial production. The initial estimate of 0.5% was lifted to 0.7%.

Key Quotes

"However, the data has been overshadowed by the sharp decline in machinery orders, a proxy for capital investment, and a collapse household spending. Forecasts of a 4-5% economic contraction in Q2 GDP (quarter-over-quarter annualized) are unlikely to change based on the final industrial output figures, barring, of course some significant surprise."