Japan Data Response Business Outlook Survey (Q4) & Consumer Confidence (Nov) The Business Outlook Survey shows that companies are sanguine about the impact of the consumption tax hike, but households have lost confidence in Abenomics. 10th December 2013 · 1 min read
Japan Data Response GDP (Q3 Revised), Current Account (Oct) & Economy Watchers Survey (Nov) The downward revision in the second estimate of Q3 GDP largely reflects weaker inventories and is therefore no big deal. While demand excluding inventories was almost stagnant, the Economy Watchers... 9th December 2013 · 1 min read
Japan Data Response Labour Cash Earnings (Oct.) The rise in wages in October largely reflects volatile overtime payments, while regular pay continues to fall. Looking ahead, there are a number of reasons to be sceptical about an acceleration in... 3rd December 2013 · 1 min read
Japan Data Response Capital Expenditure (Q3) The fall in capital expenditure last quarter dashed hopes that non-residential investment may be revised up in the second estimate of Q3 GDP. Corporate profitability weakened, especially in the... 2nd December 2013 · 1 min read
Japan Data Response Consumer Prices, Unemployment, Industrial Production (Oct.), Manufacturing PMI (Nov.) Despite a slower-than-expected rise in industrial production in October, the outlook for the sector remains buoyant. Meanwhile, there are signs that domestic inflationary pressure is picking up even... 29th November 2013 · 1 min read
Japan Data Response Retail Sales (Oct.) Despite a fall in October, the broad upward trend in retail sales remains intact. Sales are likely to surge in the coming months ahead of the consumption tax hike, but should plunge thereafter. 28th November 2013 · 1 min read
Japan Data Response Small Business Confidence (Nov.) Small business confidence reached a fresh high in November, but will likely worsen once the consumption tax is raised next April. 26th November 2013 · 1 min read
Japan Data Response External trade (Oct.) The surge in imports in October partly reflects a weak base from last year, as well as a curious spike in energy imports. The trade deficit may well widen further in the near-term as spending is... 20th November 2013 · 1 min read
Japan Data Response GDP (Q3 Preliminary) The slowdown in Q3 GDP follows unsustainably strong growth in the first half of the year and is therefore no cause for concern. The economy is likely to regain momentum in the near-term as spending is... 14th November 2013 · 1 min read
Japan Data Response Machinery Orders (Sep.) Despite a modest fall in September, the uptrend in machinery orders remains intact and points to a further rebound in business investment. However, the recovery may not be strong enough to offset the... 13th November 2013 · 1 min read
Japan Data Response Money Supply & Consumer Confidence (Oct.) The slump in consumer confidence in October shows that households feel uncomfortable with the combination of rising prices and falling incomes. Meanwhile, the money supply grew at its fastest pace... 12th November 2013 · 1 min read
Japan Data Response Economy Watchers Survey (Oct.) & Current Account (Sep.) The rise in the outlook component of the Economy Watchers Survey to a six month high suggests that economic conditions remained robust at the start of the fourth quarter. Meanwhile, the record current... 11th November 2013 · 1 min read
Japan Data Response Manufacturing PMI (Oct.) & Labour Cash Earnings (Sep.) The manufacturing PMI reached a three-year high in October and points to a further rebound in industrial production in coming months. Meanwhile, labour cash earnings edged up in September, but the... 31st October 2013 · 1 min read
Japan Data Response Unemployment Rate, Retail Sales (Sep.) & Small Business Confidence (Oct.) Today's data show that economic momentum remains strong. Small business confidence and retail sales both reached new multi-year highs, helped by strong employment gains. 29th October 2013 · 1 min read
Japan Data Response Consumer Prices (Sep.) Headline inflation rose further in September, but the acceleration was largely due to a spike in fresh food prices. While a gradual closing of the output gap and stubbornly high import price inflation... 25th October 2013 · 1 min read
Japan Data Response Senior Loan Officer Survey (Q3) The BoJ’s Senior Loan Officer Survey shows that household loan demand remains very strong. Corporate loan demand is weaker but record low lending rates and an ongoing easing in lending standards... 22nd October 2013 · 1 min read
