Even before Japan can stage a convincing growth rebound, fears are already building over a sharp slowdown in the world’s third largest economy. Economic indicators published on Tuesday including weaker-than-expected industrial production and household spending for June, highlighted the fragility of the recovery… Industrial output fell 3.3 percent in June from May, against expectations for a decline of 1.8 percent. Household spending for the month fell 2 percent month-on-month, lower than forecasts for a rise of 0.7 percent.
This JP Morgan analyst acknowledges the disappointing numbers today, admits that the trends are troubling, but naturally remains bullish. Surprise, surprise. Here is a direct link.