Japan continues to make progress in deflation fight.

Japan's "core core" CPI, which excludes energy and fresh food, rose 0.3% on year in October, the first gain for five years and the biggest increase since 1998. Unemployment held steady at 4% in October, while manufacturing PMI rose to 55.1 in November from 54.2 last month. However, October industrial production improved just 0.5% on month and badly missed expectations, while the growth in overall household spending slowed and worker incomes - which are crucial in the battle against deflation - dropped 1.3%.