Japan Data Response Capital Expenditure (Q3) The strong rebound in capital spending excluding software last quarter suggests that GDP may have been flat last quarter instead of shrinking slightly as initially estimated. 1st December 2015 · 1 min read
Japan Data Response Industrial Production & Retail Sales (Oct.) The second straight rise in industrial production indicates that the economy returned to growth this quarter following two straight contractions in output. 30th November 2015 · 1 min read
Japan Data Response Unemployment, Consumer Prices, Household Spending (Oct.) The Bank of Japan’s new favourite price gauge last month recorded the first drop since February. With sizeable amounts of slack dampening price pressures, this slowdown should continue in coming... 27th November 2015 · 1 min read
Japan Data Response Small Business Confidence (Nov.) Following the uptick in yesterday’s flash manufacturing PMI, the renewed rise in small business confidence in November adds to the evidence that activity will rebound this quarter. 25th November 2015 · 1 min read
Japan Data Response Flash Manufacturing PMI (Nov.) The manufacturing PMI climbed to a fresh high in November and suggests that Japan’s economy returned to growth this quarter. 24th November 2015 · 1 min read
Japan Data Response External trade (Oct.) While export volumes probably edged up in October, external demand is set to remain sluggish for now. 19th November 2015 · 1 min read
Japan Data Response GDP (Q3 Preliminary) The second straight contraction in GDP underlines the downside risks to the Bank of Japan’s growth forecasts. With rising slack dampening price pressures, we remain convinced that more monetary... 16th November 2015 · 1 min read
Japan Data Response Machinery Orders (Sep.) Despite a rebound in “core” machinery orders in September, they still fell sharply across Q3 as a whole. The upshot is that non-residential investment probably dropped for the second straight quarter... 12th November 2015 · 1 min read
Japan Data Response Labour Cash Earnings (Sep.) Wage growth edged up in September but still falls short of trend productivity growth. The upshot is that the tight labour market has yet to create noticeable cost pressures. 9th November 2015 · 1 min read
Japan Data Response Consumer Confidence (Oct.) While the rebound in consumer confidence in October suggests that consumer spending will continue to recover, the renewed fall in household inflation expectations should ring alarm bells at the Bank... 4th November 2015 · 1 min read
Japan Data Response Unemployment, Consumer Prices, Household Spending (Sep.) The renewed rise in inflation excl. fresh food and energy in September would provide a reason for the Bank of Japan to leave policy settings unchanged later today. But the rebound in underlying... 30th October 2015 · 1 min read
Japan Data Response Household Spending (Sep.) The renewed rise in inflation excl. fresh food and energy in September would provide a reason for the Bank of Japan to leave policy settings unchanged later today. But the rebound in underlying... 30th October 2015 · 1 min read
Japan Data Response Industrial Production (Sep.) The rebound in industrial output in September and upbeat forecasts for Q4 have reduced the chances that the Bank of Japan will announce more easing tomorrow. 29th October 2015 · 1 min read
Japan Data Response Small Business Confidence (Oct.) The drop in small business confidence in October undermines the upbeat message from the flash manufacturing PMI and suggests that economic activity is broadly flat. 28th October 2015 · 1 min read
Japan Data Response Retail Sales (Sep.) The renewed rise in retail sales in September adds to the evidence that private consumption rebounded last quarter. 28th October 2015 · 1 min read
Japan Data Response Flash Manufacturing PMI (Oct.) While the rebound in today’s flash manufacturing PMI for October suggests that the economy may have turned a corner in Q4, the Bank of Japan tends to pay little attention to the PMI surveys. 23rd October 2015 · 1 min read
