Japan Data Response Labour Cash Earnings (Feb.) February’s data on labour cash earnings were a mixed bag. While growth in regular earnings slowed, wages of part-time worker grew at the fastest pace in years. The key point though is that much faster... 7th April 2017 · 1 min read
Japan Data Response Consumer Confidence (Mar.) The rise in consumer confidence in March left sentiment at the highest level it has been since autumn 2013 and suggests that consumption should continue to recover. However, households still expect... 6th April 2017 · 1 min read
Japan Data Response Tankan (Q1) While today’s Tankan survey showed that business conditions for large manufacturers did not improve as much as most had anticipated, the survey suggests that growth will remain strong for now. What’s... 3rd April 2017 · 1 min read
Japan Data Response Ind. Prod., H’H Spending, Unempl. & Cons. Prices (Feb.) Today’s activity data suggest that Japan’s economy continued to recover in Q1 while the labour market tightened further. However, very weak underlying price pressures highlight that the Bank of Japan... 31st March 2017 · 1 min read
Japan Data Response Small Business Confidence (Mar.) The rebound in small business confidence in March largely reflects seasonal patterns and the bigger picture is that the survey points to only modest gains in industrial activity. What’s more, the... 29th March 2017 · 1 min read
Japan Data Response Retail Sales (Feb.) The renewed rise in retail values in February is a positive sign, especially as other data also point to a rebound in private consumption this quarter. 29th March 2017 · 1 min read
Japan Data Response Flash Manufacturing PMI (Mar.) The drop in the manufacturing PMI in March is hardly a disaster as the index had climbed to a three-year high in February. More problematic is that the survey points to a renewed moderation in price... 24th March 2017 · 1 min read
Japan Data Response External trade (Feb.) A large jump in exports in February resulted in the highest trade surplus since 2010. The upshot is that net trade should have continued to support growth this quarter. 22nd March 2017 · 1 min read
Japan Data Response Machinery Orders (Jan.) Machinery orders weakened in January but their link with business investment has been poor lately. While capital goods shipments suggest that investment may have risen further this quarter, a marked... 13th March 2017 · 1 min read
Japan Data Response Labour Cash Earnings (Jan.) The steady growth in overall labour cash earnings in January masks the strongest increase in base pay in almost two decades. Nonetheless, wages would still have to rise considerably faster to meet the... 9th March 2017 · 1 min read
Japan Data Response Economy Watchers Survey (Feb.) Today’s Economy Watchers Survey suggests that the recovery in industrial production has ground to a halt. It also suggests that the number of employed persons will expand at a slower pace in coming... 8th March 2017 · 1 min read
Japan Data Response GDP (Q4 Revised) & Current Account (Jan.) Revised data show that GDP grew slightly more last quarter than initially reported. We expect the economy to expand by a steady 1% this year but to slow next year as rising prices undermine households... 8th March 2017 · 1 min read
Japan Data Response Consumer Confidence (Feb.) The small decline in consumer confidence in February is not particularly worrying as sentiment had reached a multi-year high in January. Meanwhile, household inflation expectations have been stable... 3rd March 2017 · 1 min read
Japan Data Response Household Spending, Unemployment & Consumer Prices (Jan.) Household spending rebounded sharply in January as the labour market continued to tighten. However, price pressures remain subdued as the boost from higher energy prices is dampened by weak service... 3rd March 2017 · 1 min read
Japan Data Response Capital Expenditure (Q4) Today’s capital spending figures suggest that non-residential investment was stronger last quarter than initially reported. Overall GDP growth may therefore be revised up from +0.2% q/q to +0.3% q/q... 1st March 2017 · 1 min read
Japan Data Response Small Business Confidence (Feb.) While small business confidence weakened slightly in February, the survey has not been a good to activity lately. We would highlight that firms continue to report pronounced staff shortages while... 28th February 2017 · 1 min read
