Japan Data Response Labour Market & Industrial Production (Oct. 2021) Employment fell sharply again in October despite the lifting of states of emergency declarations at the start of the month. However, it should rebound sharply across November and December in line with... 30th November 2021 · 3 mins read
Japan Data Response Japan Retail Sales (Oct. 2021) Retail sales kept rising in October despite another drop in motor vehicles sales. With supply disruptions now starting to ease and mobility picking up, they should continue to increase. 29th November 2021 · 2 mins read
Japan Data Response Japan Flash PMIs (Nov. 2021) November’s flash PMI points to a rebound in industrial output amidst early signs that supply shortages are diminishing. But while the services sector is now on the mend, the recovery there is lacking... 24th November 2021 · 2 mins read
Japan Data Response Japan Consumer Prices (Oct. 2021) Headline inflation edged down in October despite an acceleration in energy inflation. Hit yet again by weaker mobile phone tariff inflation underlying inflation weakened further into negative... 19th November 2021 · 2 mins read
Japan Data Response Japan External Trade (Oct. 2021) The recovery in exports in October suggests that supply shortages were beginning to ease in the automobile sector. We think that the rebound in exports will pick up pace over the coming months as... 17th November 2021 · 2 mins read
Japan Data Response Japan GDP (Q3 2021 Preliminary) While the economy contracted yet again in Q3 as supply shortages and the Delta wave softened domestic demand, output should now be rebounding sharply. With most domestic restrictions removed, we... 15th November 2021 · 2 mins read
Japan Data Response Japan Economy Watchers Survey (Oct. 2021) The surge in October’s Economy Watchers Survey is the strongest sign yet that the economy is rebounding rapidly now that the bulk of the population is fully vaccinated and new virus cases have plunged... 9th November 2021 · 2 mins read
Japan Data Response Japan Labour Cash Earnings (Sep. 2021) Wage growth weakened in September as the Delta wave resulted in a drop in overtime working hours. But with the economy now rebounding and the labour market tightening, we still expect wage growth to... 9th November 2021 · 2 mins read
Japan Data Response Labour Market & Industrial Production (Sep. 2021) While employment fell sharply again in September it should rise strongly across Q4 as economic activity gets back to near normal now that most restrictions have been lifted. Meanwhile, the sharp fall... 29th October 2021 · 3 mins read
Japan Data Response Japan Retail Sales (Sep. 2021) While retail sales rebounded in September as the Delta wave ebbed, supply shortages in the car industry may prevent a full recovery until year-end. 28th October 2021 · 2 mins read
Japan Data Response Japan Consumer Prices (Sep. 2021) Headline inflation in September turned positive for the first time this year due to spikes in fresh food and energy inflation. As the drag from mobile phone tariffs fades in the first half of next... 22nd October 2021 · 2 mins read
Japan Data Response Japan External Trade (Sep. 2021) The sharp fall in exports in September suggests that supply shortages are severely hampering manufacturing activity in some sectors. However, we think exports will soon bounce back as supply shortages... 20th October 2021 · 2 mins read
Japan Data Response Japan Machinery Orders (Aug. 2021) The fall in machinery orders in August supports our view that the recovery in business investment stalled a little across Q3. But private investment should rebound more strongly in Q4 and into next... 13th October 2021 · 2 mins read
Japan Data Response Japan Wages & Household Spending (Aug. 2021) Wage growth recovered a touch further in August and it should rise higher over the coming months as the labour market tightens and vaccines allow a full recovery in overtime and bonus payments... 8th October 2021 · 2 mins read
Japan Data Response Tankan (Q3 2021) The latest Tankan survey was stronger than most had anticipated, supporting our view that the economy will recover rapidly as the Delta wave has ebbed. However, there are mounting signs that the... 1st October 2021 · 3 mins read
Japan Data Response Japan Labour Market (Aug. 2021) While employment fell sharply in August, that was due to the Delta wave and should only prove a temporary setback. We expect the jobless rate to fall further over the coming months as the lifting of... 1st October 2021 · 2 mins read
