La Japanese industrial production it rose 2,5% in December, but the news was poorly received, as analysts expected an even larger increase. This disappointment, together with the unexpected contraction of the American GDP in the last quarter of 2012, helped deflate the sails of the market ship.
But the regional index, which lost 0,4% today, gained on the month for the third consecutive month. Also US GDP data they are less ugly than they seem: there has been a reduction in the accumulation of inventories and above all a sharp fall in public spending (for defense). The budget deficit of the quarter, not yet disclosed, will be smaller, which is good news. If public spending and stocks are taken out of the account, what remains in the GDP grew by 3% over the previous quarter: an acceleration compared to the +2% of the same figure in the previous quarter.
Both the euro exchange rate (at 1,358) and the oil price (almost 98) remain strong.
http://www.bloomberg.com/news/2013-01-31/asian-stocks-swing-between-gains-losses-after-japan-data.html
http://www.bloomberg.com/news/2013-01-31/taiwan-s-economy-expanded-more-than-estimated-in-fourth-quarter.html
