Japan Data Response Retail Sales (Apr.) Unsurprisingly, retail sales fell sharply in April following the consumption tax hike, but we remain confident that the recovery in household consumption will resume in the second half of the year. 29th May 2014 · 1 min read
Japan Data Response Small Business Confidence (May) The rebound in small business confidence in May adds to the evidence that the economy should recover quickly from any weakness after the consumption tax hike. 27th May 2014 · 1 min read
Japan Data Response Flash Manufacturing PMI (May) The inaugural flash manufacturing PMI confirmed that the weakness caused by the consumption tax hike should be short-lived. 22nd May 2014 · 1 min read
Japan Data Response External trade (Apr.) While the plunge in the trade shortfall in April may have been too strong to last, the deficit should remain low as domestic demand has weakened after the sales tax hike. 21st May 2014 · 1 min read
Japan Data Response Machinery Orders (Mar.) The surge in machinery orders in March suggests that the recovery in business investment remains on track. 19th May 2014 · 1 min read
Japan Data Response Consumer Confidence (Apr.) Despite a small rise in purchasing intentions, consumer confidence remained at very weak levels last month. 15th May 2014 · 1 min read
Japan Data Response GDP (Q1 Preliminary) Japan's economy expanded rapidly ahead of the sales tax hike. While growth is set to slump in Q2, we remain confident that the recovery will resume in the second half of the year. 15th May 2014 · 1 min read
Japan Data Response Economy Watchers Survey (Apr.) Today's Economy Watchers Survey confirmed that the Japanese economy weakened abruptly in the wake of the sales tax hike, but also suggested that the weakness is unlikely to last. 12th May 2014 · 1 min read
Japan Data Response Current Account (Mar.) The current account showed a record shortfall in March, but we expect a return to surplus in coming months. 12th May 2014 · 1 min read
Japan Data Response Unemployment & Household Spending (Mar.) While the unemployment rate remained unchanged in March, the ongoing rise in job vacancies points to further declines in the jobless rate in coming months. 2nd May 2014 · 1 min read
Japan Data Response Small Business Confidence (Apr.) The plunge in small business confidence in April shows that the mood among Japan's small firms has soured sharply after the consumption tax hike, and points to falling industrial output in coming... 30th April 2014 · 1 min read
Japan Data Response Labour Cash Earnings (Mar.) Wage growth picked up last month, but base pay continues to decline and incomes are not expanding fast enough to offset high inflation. While incomes may get some support from the spring wage... 30th April 2014 · 1 min read
Japan Data Response Industrial Production (Mar.) & Manufacturing PMI (Apr.) Industrial production did not reverse February's drop in March, and the manufacturing PMI suggests that output will fall sharply following the consumption tax hike. 30th April 2014 · 1 min read
Japan Data Response Retail Sales (Mar.) The surge in retail sales ahead of the consumption tax hike needs to be seen together with a likely plunge this month. However, we remain confident that the recovery in consumer spending will resume... 28th April 2014 · 1 min read
Japan Data Response Consumer Prices (national: Mar.; Tokyo: Apr.) While the consumption tax hike at the beginning of April lifted inflation in the capital region close to 3%, price pressure should abate in coming months as import prices have moderated. 25th April 2014 · 1 min read
Japan Data Response External trade (Mar.) The widening of the trade deficit in March should be followed by smaller shortfalls in coming months as consumers rein in spending in the wake of the consumption tax hike. 21st April 2014 · 1 min read
