Japan September Core Machine Orders Post 1st Rise in 3 Months on Service Sector Demand for Computers
–Core Orders Slip Q/Q in July-September but Smaller Than Officially Forecast –October-December Orders Projected to Show Slight Rebound –Cabinet Office Keeps View: Machine Orders Pausing By Max Sato (MaceNews) – Japanese core machinery orders, the key leading indicator of business investment in equipment, rebounded an above-forecast 1.4% on the month in September after a slight […]
Japan Q3 GDP Posts 1st Contraction in 3 Quarters on Pullback in Net Exports, Sharp Drop in Private Inventories, Weaker Public Works, Capex
–Q3 GDP -2.1% Annualized Drop Much Weaker Than -0.6% Median Forecast –Consumption Flat as Pent-Up Demand for Eating Out, Traveling Wanes –Q4 GDP Seen Up but Faces Slowing Global Demand, Domestic Labor Shortages By Max Sato (MaceNews) – Japan’s gross domestic product for the July-September quarter posted its first contraction in three quarters, down 0.5% […]
Bank of Japan October Meeting Summary: Must Watch Pay Hikes for Fiscal 2024 Onward as Key to Positive Wages-to-Inflation Cycle
–Members Agree Central Bank Needs to ‘Patiently’ Continue with Monetary Easing for Now Amid High Uncertainty By Max Sato (MaceNews) – Bank of Japan board members stressed that they need to closely monitor wage negotiations between major firms and their labor unions that take place in the early parts of next year as they […]
Japan September Household Spending Posts 7th Straight Y/Y Drop as Lingering Heat Wave Dents Demand for Autumn Goods, High Costs Hurt
–Q3 Core Spending Down 0.8% Q/Q for 3rd Straight Fall, Indicating Sluggish Consumption in Q3 GDP –Move to Discount Mobile Phone Plans Continues, Pushing Down Spending–Eating Out, Travel Solid; Demand for Automobiles Up on Improved Supply Chains –Real Household Income Posts 12th Straight Y/Y Drop on Elevated Costs Despite Nominal Wage Hikes By Max Sato […]
Updated: Preview: Japan Q3 GDP Seen Posting 1st Contraction in a Year on Pullback in Net Exports, Public Works; Consumption, Capex Likely Rebound but Sluggish
–Updates Household Spending and BOJ Consumption Activity Index Information in 9th and 10th Paragraphs –Pent-Up Demand for Eating Out, Travel Appears to Wane –Q4 GDP Seen Up but Faces Slowing Global Growth By Max Sato (MaceNews) – Japan’s gross domestic product for the July-September quarter is forecast by economists to post its first contraction in […]
BOJ Makes 1% Upper End of 10-Year JGB Yield Flexible ‘Reference,’ Not Definite Line to Defend, But Keeps Official Target at ‘Around Zero’
–Vote on Making Yield Curve Control More Flexible Is 8-to-1 –Board Member Nakamura Dissents Again, Should Wait Until Bank Can Confirm Firms’ Earning Power Is Up –BOJ Board Keeps Basic Easing Stance Unanimously To ‘Patiently’ Pursue Stable 2% Inflation By Max Sato (MaceNews) – The Bank of Japan said Tuesday its policy board decided in […]
Japan September Retail Sales Y/Y Rise Decelerates; Lingering Heat Wave Spoils Appetite for Autumn Clothing
–METI Keeps View: Retail Sales on Gradual Uptrend–High Prices for Food, Beverages and Fuels Supporting Overall Retail Sales –Department Store Sales Supported by Influx of Foreign Visitors By Max Sato (MaceNews) – Japanese retail sales posted a solid 5.8% rise on the year in September thanks to solid demand for automobiles, as largely expected, but […]
Japan September Industrial Production’s Slight Rebound Led by Auto Industry After Temporary Shutdown at Toyota Factories in August
–METI Survey: Output Likely to Rise in October, Slip Back in November –Core Capital Goods Shipments Dip in July-September, Indicating Weak Capex in Q3 GDP Data –METI Keeps View: Output Taking One Step Forward, One Step Back –METI To Watch Effects of Downside Risks to Global Growth, Inflation By Max Sato (MaceNews) – Japan’s industrial production […]
Japan September Jobless Rate Eases to 2.6% from August’s 2.7% as Job Cuts Fall, Fewer People Quit to Look for Better Positions
–Employment Up Y/Y for 14th Straight Month, Led by Hotels, Restaurants, Construction; Manufacturing Jobs Slump –Number of Unemployed Drop After 2 Months of Increase By Max Sato (MaceNews) – Japanese payrolls posted their 14th straight rise on year in September as massive hiring by hotels, restaurants and builders continued mitigating a sharp decline in manufacturing […]
Press Report: Bank of Japan Likely to Consider Allowing 10-Year Bond Yield to Trade Above 1% in Flexible Market Operations
By Max Sato (MaceNews) – Bank of Japan policymakers are likely to consider making the yield curve control framework even more flexible at their meeting this week by allowing the 10-year bond yield to trade above 1% “to some extent,” the upper end of its range the BOJ expanded in July, the Nikkei newspaper reported […]