Japan Data Response Unemployment & Industrial Production (Oct.) As usual the latest Japanese data include something for everyone, with unemployment edging higher but industrial production not as weak as feared in October and expected to recover. 30th November 2010 · 1 min read
Japan Data Response Retail Sales (Oct.) & Small Business Conf. (Nov.) October's drop in retail sales, like that in September, was exaggerated by the expiry of government subsidies for car purchases. The trends in overall consumer spending are healthier than the... 29th November 2010 · 1 min read
Japan Data Response National CPI (Oct.) The return of inflation to Japan last month was widely expected and likely to be temporary, but this does not mean it should be ignored completely. 26th November 2010 · 1 min read
Japan Data Response External Trade (Oct) Japan’s exports are weakening due both to the strength of the yen, which has already caused the local currency value of overseas sales to fall outright for most of the year, and more recently to a... 25th November 2010 · 1 min read
Japan Data Response GDP (Q3 Prelim) Japan's GDP growth in Q3 was comfortably above consensus, but the markets are right to be worried about its sustainability. We continue to expect the economy to contract again in Q4 as consumer... 15th November 2010 · 1 min read
Japan Data Response Machinery Orders (Sep.) Machinery orders surged in the third quarter, supporting our view that a rebound in investment spending will contribute to an above-consensus increase in GDP in the official data released next week... 11th November 2010 · 1 min read
Japan Data Response Consumer Confidence (Oct.) Japanese consumers continue to grow more cautious, but the latest downtick in confidence is not unexpected given the weakness in other sentiment indicators and there are good reasons to expect... 10th November 2010 · 1 min read
Japan Data Response Economy Watchers Survey & Bank Lending (Oct.) Japan’s Economy Watchers Survey (EWS) for October suggests that the recovery is faltering again in the fourth quarter after what we expect to have been strong (aboveconsensus) growth in GDP in the... 9th November 2010 · 1 min read
Japan Data Response Unemployment, Output & CPI (Sep.) Japan's manufacturing output fell in the third quarter, reflecting both weaker exports and the expiry of government car subsidies at home. The outlook for Q4 is grim. However, other parts of the... 29th October 2010 · 1 min read
Japan Data Response Small Business Confidence (Oct.) Smaller Japanese businesses report that conditions are worsening, particularly in the manufacturing sector, which presumably reflects the more challenging global economic environment and the strength... 27th October 2010 · 1 min read
Japan Data Response External Trade (Sep.) Japan’s exports were broadly unchanged in the third quarter, marking an end to the string of large positive contributions to GDP growth from net trade. For now at least, consumer spending and... 25th October 2010 · 1 min read
Japan Data Response Activity Index (Aug) & Senior Loan Officer Survey The expenditure breakdown released alongside the August activity index and the detail of the Bank of Japan’s Senior Loan Officer Survey both suggest that the economic recovery is finally spreading to... 21st October 2010 · 1 min read
Japan Data Response Tertiary Activity (Aug) The smaller-than-expected decline in the tertiary activity index suggests that the recovery in Japan’s service sector gathered pace in the third quarter despite the strength of the yen. 18th October 2010 · 1 min read
Japan Data Response Machinery Orders (Aug.) & Bank Lending (Sep.) There are some valid concerns over the outlook for the next few quarters, but the surge in machinery orders suggests that the long-awaited rebound in Japanese investment has at least begun. This... 13th October 2010 · 1 min read
Japan Data Response Consumer Confidence (Sep.) Japanese consumer confidence eroded further in September, although this is no surprise following the falls in other sentiment indicators. Confidence remains well above its 2009 trough and, for now at... 12th October 2010 · 1 min read
Japan Data Response Economy Watchers Survey (Sep.) Current economic conditions worsened sharply last month, according to the latest Economy Watchers Survey (EWS). An apparent improvement in the outlook provided the thinnest of silver linings... 8th October 2010 · 1 min read
