"Expectations for deflation, deeply embedded among the public, are very persistent. It appears quite difficult for monetary easing implemented by Governor Kuroda to achieve a positive cycle of inflation and economic recovery."
-Yuichi Kodama, chief economist at Meiji Yasuda Life Insurance
Japan's industrial production expanded more than expected in April, adding to hopes that Prime Minister Shinzo Abe's measures are stimulating the national economy. The preliminary data showed Japans industrial production climbed 1.7% year-on-year in April, topping forecasts of a 0.8% jump. On March, industrial production rose 0.9%, reported the Trade Ministry. Meanwhile, forecasts for May and June remained gloomy as experts predict flat output this month and a 1.4% contraction in June.