Japan December Producer Inflation Remains Elevated as Utilities Up Over 50% Y/Y, Steel, Paper Still Costly
By Max Sato –Annual Rate +10.3% in September 2022 Remains Highest in 41 Years–Weak Yen Continues Boosting Import Costs for Producers but at Slower Pace Amid Recent Dollar Pullback (MaceNews) – Producer inflation in Japan popped above 10% in December as utility charges stood over 50% above year-earlier levels and firms continued passing higher costs […]
<strong>Japan December Tokyo Core CPI Up Above-Forecast 4.0% Y/Y, Sets Another 40-Year High on Widespread Markups</strong>
–Total CPI Also Jumps 4.0% Y/Y, Highest in 41 Years With or Without Effects of 2014, 1997 Sales Tax Hikes –Narrow CPI (Ex-Fresh Food, Energy) +2.7%, 30-Year High, As Expected By Max Sato (MaceNews) – Consumer prices in Tokyo, the leading indicator of the national average, continued rising at the fastest pace in decades in […]
<strong>Japan November Household Spending Sluggish Amid Surging Costs for Daily Necessities, Mild Weather </strong>
–Govt Official: Household Spending Trend Flat If Special Factors Excluded –Spending on Hotels, Transport Stays Above Year-Earlier Levels –Real Household Income Dips but at Slower Pace; Real Wages Down Amid Retail Price Markups By Max Sato (MaceNews) – Japan’s real household spending was sluggish both on the month and year in November as many families […]
<strong>BOJ December Meeting Summary: Must Keep Easing Stance to Help Wage Hikes, Stable 2% Inflation</strong>
–Concerned About Weakened Bond Market Functions, Board Members Argue for Expanding JGB Yield Trading Range –Members See JGB Range Adjustment as Not Tightening –Members Also Discuss Eventual Exit from Easing in Future with No Specifics By Max Sato (MaceNews) – Bank of Japan board members argued that the bank should maintain its easing stance to […]
<strong>Japan November Retail Sales Slow Amid Concerns Over 8th Covid Wave, Lower Fuel Prices </strong>
–METI Keeps View: Retail Sales Picking Up; Sales Dip on Month but 3-Month Moving Average Up –Department Store Sales Recovery Pace Slows; Below Pre-Pandemic Levels –Demand for Cosmetics, Drugs Remains Strong; Auto Sales Pickup Slows By Max Sato (MaceNews) – Japanese retail sales posted the ninth straight year-on-year increase in November, with the pace of […]
<strong>Japan November Jobless Rate Dips to 2.5% as Fewer People Look for Work; Jobs Up Y/Y on Eased Border Rules, Travel Subsidies </strong>
–More People Quit on Month to Seek Other Openings but Number of People Who Start Looking for Work Falls Faster –Employment Growth Posts 4th Y/Y Straight Gain, Let by Hotels, Restaurants –Unemployed Marks 17th Straight Y/Y Drop; Still Above January 2020 Level By Max Sato (MaceNews) – Japanese payrolls posted their fourth straight year-on-year growth […]
<strong>Japan November Core CPI Up 3.7% Y/Y, 41-Year High, on Widespread Processed Food Markups, Elevated Utility Costs </strong>
–Processed Food Largest Inflation Factor; Energy’s Contribution Shrinks Further on Lower Gasoline –Core CPI (Ex-Fresh Food) Y/Y Rise Highest Since +4.0% in December 1981 –Core-Core CPI (Ex-Fresh Food, Energy) +2.8% Y/Y, 30-Year High, Matching +2.8% in April 1992 –Total CPI +3.8% Y/Y, Nearly 32-Year High; Largest Since +4.0% in January 1991 By Max Sato (MaceNews) […]
Japanese Government Keeps Economic Recovery Outlook on Service Sector Pickup but Warns of China’s Slowdown
By Max Sato (MaceNews) – Japan’s government Wednesday maintained its economic recovery outlook as new subsidies for domestic travel and eased border control have shored up the service sector, mitigating softer industrial production, according to its monthly report released by the Cabinet Office. As part of its risk analysis, however, the government warned about China’s […]
<strong>Japan November Export Rise Slows Amid Lower Global, Chinese Demand </strong>
–Japan Posts 16th Straight Month of Trade Deficit on High Oil, Gas Import Costs–Exports to US Remain High After Hitting Record High Amount in October –Pace of Exports to China Continues to Slow After Picking Up from Lockdown Impact By Max Sato (MaceNews) – Japanese export values posted a slower pace of growth on lower […]
<strong>Japan October Machine Orders Rebound on Non-Manufacturing Demand, Manufacturers Remain Weak </strong>
–Govt Keeps View After Downgrade Last Month: Pickup in Machine Orders Pausing By Max Sato (MaceNews) – Japanese machinery orders, the key leading indicator of business investment in equipment, posted the first rise in three months in October, led by strong demand from non-manufacturers and reflecting solid capex plans for fiscal 2022, but uncertainty over […]