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THE ECONOMY.(TO THE POINT)
Japan economic data disappoint
The jobless rate unexpectedly rose to 5.2% in Oct. from 5.1% in Sept. Industrial production rose for a 2nd month in Oct., but the 0.8% increase was less than half the gain forecast. Spending at households of salaried workers fell 1.1% in Oct. from a year ago. Export growth has fueled production gains, but the outlook for domestic demand remains uncertain, the government said.
** Japan's core consumer prices in Oct. rose 0.1% from a year ago, the first annual gain since April '98. But analysts attributed the gain to one-time price hikes for rice and health care. Tokyo prices fell 0.2% in Nov.
** The Bank of Japan sold $14.6 bil worth of yen from Oct. 30 to Nov. 26, down 41% from the prior month, in efforts to stem the yen's rise vs. the dollar.
** Japanese regional bank Ashikaga was told its loan-loss reserves were insufficient and may require a $9.1 bil bailout, a Japanese newspaper reported. Analysts said the bank may be nationalized.
** The European Commission's euro zone business climate gauge ...
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