Japan Data Response Consumer Confidence (Jul.) Japanese households seem unconvinced that the resounding victory of the ruling coalition in the Upper House elections will improve their living conditions in coming months. At least their inflation... 2nd August 2016 · 1 min read
Japan Data Response Industrial Production, Household Spending, Retail Sales, Unemployment & Consumer Prices (Jun.) Today’s activity data suggest that Japan’s economy continued to recover last quarter, while the labour market continues to tighten. However, the stronger yen is set to dampen price pressures further... 29th July 2016 · 1 min read
Japan Data Response Small Business Confidence (Jul.) While small business confidence rose for the second straight month in July, it still suggests that Japan’s economic recovery remains sluggish. 27th July 2016 · 1 min read
Japan Data Response External Trade (Jun.) The sharp strengthening of the exchange rate since the start of the year continued to depress trade values in June. However, falling trade values mask a stabilisation in trade volumes. 25th July 2016 · 1 min read
Japan Data Response Flash Manufacturing PMI (Jul.) The second straight rise in the manufacturing PMI in July suggests that firms have shrugged off any uncertainty caused by the UK’s vote to leave the EU. However, the appreciation of the exchange rate... 22nd July 2016 · 1 min read
Japan Data Response Machinery Orders (May) The renewed decline in “core” machinery orders in May suggests that capital spending fell yet again last quarter. 11th July 2016 · 1 min read
Japan Data Response Economy Watchers Survey (Jun.) The plunge in the outlook of today’s Economy Watchers Survey indicates that the stronger yen and Brexit have dealt a serious blow to confidence in Japan. 8th July 2016 · 1 min read
Japan Data Response Labour Cash Earnings (May) Wage growth turned negative in May, and even allowing for falling working hours, the tight labour market has yet to produce noticeable cost pressures . 8th July 2016 · 1 min read
Japan Data Response Consumer Confidence (Jun.) The delay of the sales tax hike provided a boost to household sentiment in June. However, the collapse in household inflation expectations is clearly worrying. 1st July 2016 · 1 min read
Japan Data Response Tankan (Q2) While the Tankan’s headline index held steady last quarter, the survey doesn’t capture the impact of Brexit in full. What’s more, conditions for non-manufacturers worsened. 1st July 2016 · 1 min read
Japan Data Response Household Spending, Unemployment & Consumer Prices (May) While the labour market remains tight, consumer spending probably slowed last quarter. With underlying inflation now clearly weakening, we retain our view that the Bank of Japan will announce more... 1st July 2016 · 1 min read
Japan Data Response Industrial Production (May) The sharp fall in industrial production in May suggests that the economy slowed in the second quarter following a solid rise in GDP in Q1. We retain our forecast that the Bank of Japan will announce... 30th June 2016 · 1 min read
Japan Data Response Small Business Confidence (Jun.) Small business confidence picked up in June and the further improvement predicted for July suggests that manufacturing activity will continue to recover in coming months. 29th June 2016 · 1 min read
Japan Data Response Retail Sales (May) Even though retail sales stagnated once again in May, private consumption should continue to recover in the second quarter. 29th June 2016 · 1 min read
Japan Data Response Flash Manufacturing PMI (Jun.) The manufacturing PMI remained weak in June and still points to sharp falls in industrial output. However, we would put more weight on firms’ production forecasts which point to a solid rebound in... 23rd June 2016 · 1 min read
Japan Data Response External trade (May) The trade surplus narrowed in May as the stronger yen lowered export revenues and rising energy prices lifted import values. We expect crude oil prices to recover further next year, so the trade... 20th June 2016 · 1 min read
