Japan’s industrial production rose for a second month, highlighting an improved economic outlook as the government nominated Asian Development Bank President Haruhiko Kuroda to be its new central bank chief.
Output climbed 1 percent from December, when it rose 2.4 percent, the Trade Ministry said in Tokyo today. The median estimate of 27 economists was for a 1.5 percent gain. Production fell 5.1 percent from the previous year.
The yen’s more than 11 percent fall against the dollar in the past three months is improving the outlook for exporters as Prime Minister Shinzo Abe calls for more monetary stimulus to end deflation. JPMorgan Chase & Co. said Abe’s proposed new BOJ new leadership team, announced by parliament today, could implement further easing as early as April.