Japan Data Response Machinery Orders (Apr.) The sharp fall in machinery orders in April bodes ill for capital spending in the second quarter, though we wouldn’t read too much into the data for a single month. 9th June 2016 · 1 min read
Japan Data Response Economy Watchers Survey (May) The decline in current conditions in May’s Economy Watchers Survey reflects seasonal patterns rather than a genuine deterioration. What’s more, the outlook for coming months has started to brighten... 8th June 2016 · 1 min read
Japan Data Response GDP (Q1 Revised) The second estimate of Q1 GDP revealed that growth was marginally stronger last quarter than initially reported. However, we expect spare capacity to shrink only slowly, so the Bank of Japan will... 8th June 2016 · 1 min read
Japan Data Response Labour Cash Earnings (Apr.) The slowdown in wage growth in April was broad-based, and we believe that the labour market will have to tighten much further to create major cost pressures. 3rd June 2016 · 1 min read
Japan Data Response Consumer Confidence (May) Households’ expectations for the next few months were little changed in May but the delay of the sales tax hike should lift spirits in coming months. 2nd June 2016 · 1 min read
Japan Data Response Capital Expenditure (Q1) Today’s capital spending figures suggest that business investment was stronger last quarter than initially reported. The upshot is that next week’s revised Q1 GDP figures could show a 0.5% q/q... 1st June 2016 · 1 min read
Japan Data Response Small Business Confidence (May) Small business confidence dropped back in May and suggests that the economic recovery remains anaemic. 31st May 2016 · 1 min read
Japan Data Response Industrial Production, Household Spending & Unemployment (Apr.) Today’s figures on industrial production and household spending suggest that Japan's economy continued to expand at a solid pace in the second quarter. 31st May 2016 · 1 min read
Japan Data Response Retail Sales (Apr.) The stagnation in retail sales values in April suggests that private consumption will slow this quarter. 30th May 2016 · 1 min read
Japan Data Response Consumer Prices (Apr.) According to our estimates, the Bank of Japan’s preferred inflation gauge slowed in April. Lingering slack and falling import prices suggest that price pressures will continue to moderate. 27th May 2016 · 1 min read
Japan Data Response External Trade (Apr.) Export values continued to fall sharply in April, and the further strengthening of the exchange rate suggests that the drag from falling export prices should persist for now. 23rd May 2016 · 1 min read
Japan Data Response Machinery Orders (Mar.) On its own, the rebound in machinery orders in March bodes well for capital spending in the second quarter. However, the weakness in capital goods shipments is disconcerting. 19th May 2016 · 1 min read
Japan Data Response GDP (Q1 Preliminary) Japan’s economy performed better than expected in Q1, reducing the odds that the government will postpone the sales tax hike currently scheduled for next April. But the Bank of Japan clearly has more... 18th May 2016 · 1 min read
Japan Data Response Consumer Confidence (Apr.) If we are right in assuming that the Kyushu earthquake dampened sentiment in April, an improvement in coming months seems likely. 9th May 2016 · 1 min read
Japan Data Response Labour Cash Earnings (Mar.) Wage growth rose sharply in March, but only because of strong bonus payments. Growth in base pay weakened, and the ongoing spring wage negotiations suggest that the tight labour market is not about to... 9th May 2016 · 1 min read
Japan Data Response Industrial Production, Household Spending, Retail Sales, Unemployment & Consumer Prices (Mar.) While consumer spending and industrial production rebounded in March, the outlook for the second quarter is mixed. With price pressures moderating, we retain our forecast that the Bank of Japan will... 28th April 2016 · 1 min read
