Japan Data Response

Labour Market, Household Spending, Consumer Prices (Oct.) & Capital Spending (Q3)

Today’s household spending data suggest that private consumption remained sluggish this quarter. Meanwhile, there are still few signs that the tight labour market is boosting price pressures.

1st December 2017 · 1 min read

Japan Data Response

Industrial Production (Oct.)

Even though industrial production disappointed in October, optimistic forecasts for the remainder of Q4 suggest that activity accelerated towards the end of the year.

30th November 2017 · 1 min read

Japan Data Response

Retail Sales (Oct.)

While retail sales stagnated in October, strong gains in household incomes and buoyant consumer confidence suggest that consumer spending should return to growth this quarter.

29th November 2017 · 1 min read

Japan Data Response

Flash Manufacturing PMI (Nov.)

The manufacturing PMI climbed to a fresh high in November and suggests that the expansion accelerated in the final quarter of the year. What’s more, the survey shows that price pressures continue to...

24th November 2017 · 1 min read

Japan Data Response

External Trade (Oct.)

Export volumes continue to rise more rapidly than import volumes so net trade should have continued to support GDP growth in the current quarter.

20th November 2017 · 1 min read

Japan Data Response

GDP (Q3)

The longest expansion since 2001 continued in the third quarter. However, the economy is running into capacity constraints and we expect growth to slow next year.

15th November 2017 · 1 min read

Japan Data Response

Economy Watchers Survey (Oct.)

The Economy Watchers Survey was the strongest it has been since 2014’s sales tax hike last month. Job growth should therefore remain strong and the recent slowdown in consumer spending should come to...

9th November 2017 · 1 min read

Japan Data Response

Machinery Orders (Sep.)

The plunge in machinery orders in September followed strong gains in previous months and orders still recorded a solid rise last quarter. The upshot is that we’ve pencilled in another increase in non...

9th November 2017 · 1 min read

Japan Data Response

Labour Cash Earnings (Sep.)

Wage growth rebounded in September and strong growth in part-time earnings suggest that it will pick up further in coming months. But the bigger picture is that much stronger increases would be needed...

7th November 2017 · 1 min read

Japan Data Response

Consumer Confidence (Oct.)

Households remained upbeat ahead of last month’s Lower House elections which suggests that the recent slowdown in household spending is unlikely to last.

2nd November 2017 · 1 min read

Japan Data Response

Industrial Production, Labour Market & Household Spending (Sep.)

Today’s activity data confirm that growth slowed last quarter but a rebound in the current quarter is likely. Meanwhile, strong job growth isn’t reducing unemployment for now as the labour force...

31st October 2017 · 1 min read

Japan Data Response

Retail Sales (Sep.)

Despite a rebound in retail sales in September, private consumption probably fell in Q3 for the first time in almost two years. However, the weakness is unlikely to last as household incomes are...

30th October 2017 · 1 min read

Japan Data Response

Consumer Prices (Sep.)

Inflation didn’t rise any further in September. With the tailwind from higher energy prices set to fade, we think that price gains will level off around 0.5% in coming months.

27th October 2017 · 1 min read

Japan Data Response

Flash Manufacturing PMI (Oct.)

Even though the manufacturing PMI weakened a touch this month, it still points to robust gains in industrial output. However, the survey suggests that price pressures will not strengthen any further...

24th October 2017 · 1 min read

Japan Data Response

External Trade (Sep.)

Net exports probably supported quarterly GDP growth in Q3 despite September’s weakness in export volumes. But we expect overseas GDP growth to weaken so the slowdown in export growth should continue.

19th October 2017 · 1 min read