Flash: Japanese data shows economy on the mend and deflationary easing - BBH

FXstreet.com (Barcelona) - Brown Brothers Harriman analysts note that Japan released a number of reports early in the Tokyo session that show an economy seemingly on the mend and an easing of deflationary pressures.

They write, “The yen initially weakened in response, but has since firmed. On the real economy side, industrial output in April rose 1.7%, nearly three times more than the Bloomberg consensus had forecast, and comes after a 0.9% rise in March. The y/y rate improved to -2.3% from -6.7%. Separately, the May manufacturing PMI rose to 51.5 from 51.1.”