Japan Data Response

Consumer Confidence (Mar.)

While consumer confidence continued to recover in March, households have so far preferred to save rather than to spend the windfall from lower energy prices.

17th April 2015 · 1 min read

Japan Data Response

Machinery Orders (Feb.)

Despite small declines in January and February, machinery orders remain well above their Q4 14 average, so business investment should finally have started to rebound last quarter.

13th April 2015 · 1 min read

Japan Data Response

Economy Watchers Survey (Mar.)

In contrast to the rather disappointing Tankan survey, the fourth straight rise in the Economy Watchers Survey suggests that economic conditions continue to improve.

8th April 2015 · 1 min read

Japan Data Response

Current Account (Feb.)

The current account surplus dropped in February, but should remain broadly stable going forward as a higher oil import bill should be offset by rising investment income.

8th April 2015 · 1 min read

Japan Data Response

Tankan (Q1)

The small rise in today’s Tankan index for all industries suggests that economic activity remained sluggish last quarter.

2nd April 2015 · 1 min read

Japan Data Response

Industrial Production (Feb.)

The plunge in industrial production in February all but reversed the surge in January. The upshot is that Japan’s economy seems to have slowed in the first quarter of this year.

31st March 2015 · 1 min read

Japan Data Response

Retail Sales, Unemployment, Household Spending & Consumer Prices (Feb.)

While the labour market remains tight, inflation is moving further away from the Bank of Japan’s 2% target. We continue to expect the Bank to step up the pace of easing at the end of next month.

27th March 2015 · 1 min read

Japan Data Response

Small Business Confidence (Mar.)

The surge in small business confidence in March is likely to prove short lived, as firms predict a renewed weakening in April.

24th March 2015 · 1 min read

Japan Data Response

Flash Manufacturing PMI (Mar.)

The second straight drop in the manufacturing PMI suggests that the recent strength in industrial activity is unlikely to last.

24th March 2015 · 1 min read

Japan Data Response

External trade (Feb.)

The trade gap widened last month as a plunge in export volumes offset another decline in the cost of oil imports. Net trade should therefore become a drag on GDP growth soon.

18th March 2015 · 1 min read

Japan Data Response

Consumer Confidence (Feb.)

While the strong rebound in consumer sentiment in February is welcome, there are increasing signs that household inflation expectations are declining.

12th March 2015 · 1 min read

Japan Data Response

Business Outlook Survey (Q1)

The reported deterioration in business conditions in today’s Business Outlook Survey partly reflects seasonal factors. Nonetheless, the survey suggests that economic activity will remain sluggish in...

12th March 2015 · 1 min read

Japan Data Response

Machinery Orders (Jan.)

Despite a drop in January, machinery orders remain well above their Q4 14 average, and we still think that business investment will start to recover soon.

11th March 2015 · 1 min read

Japan Data Response

Economy Watchers Survey (Feb.)

The jump in February’s Economy Watchers Survey (EWS) suggests that economic conditions are improving strongly. However, the survey still points to a slowdown in manufacturing activity in coming months...

9th March 2015 · 1 min read

Japan Data Response

GDP (Q4 Revised) & Current Account (Jan)

While the second estimate of Q4 GDP was not as weak as the headlines would suggest, we still think that the Bank of Japan will announce more stimulus next month.

9th March 2015 · 1 min read