Japan’s economy gradually recovers
The Tankan report released by the Bank of Japan pointed out that the confidence of Japan’s large-scale manufacturing industry rose sharply from -27 in the third quarter to -10 in the fourth quarter, marking the second consecutive quarter of improvement and the strongest rebound in nearly 20 years. During the period, confidence in Japan’s large non-manufacturing industries also rebounded from -11 in the third quarter to -5 in the fourth quarter. The report reflects that the Japanese economy is gradually recovering from the impact of the new crown epidemic.
Eurozone manufacturing continues to recover
Industrial production in the Eurozone increased by 2.1% month-on-month in October, slightly higher than market expectations of 2% and much higher than the 0.1% in September. If calculated at an annual rate, industrial production in the region still fell by 3.8% year-on-year, but the decline was much smaller than market expectations and the previous decline of 4.4% and 6.3%, respectively. The data reflects the continued recovery of manufacturing in the Eurozone.