Japan November Exports Post 1st Y/Y Dip in 3 Months on Softer Demand for Iron/Steel, Chip-Making Equipment but Autos Remain Up
–Imports Mark 8th Straight Y/Y Fall on Easing Energy Import Costs –Exports to China Down for 12th Straight Month on Semiconductors; Pace of Decline Slows –Exports to US Post 26th Straight Y/Y Rise; Those to EU Dip For 1st Time in 33 Months By Max Sato (MaceNews) – Japanese export values came in weaker than […]
Japan Govt Keeps View on Moderate Economic Recovery with Some Soft Spots After Last Month’s Downgrade Amid Sluggish Capex
By Max Sato (MaceNews) – Japan’s government Tuesday maintained its overall assessment after downgrading it last month for the first time in 10 months in light of sluggish capital investment, saying the economy is still recovering moderately but that the pickup in some areas is pausing, according to its monthly report released by the Cabinet […]
BOJ Keeps Easing Stance Under Yield Curve Control Framework After Making It More Flexible in Oct, July
–BOJ Repeats: To ‘Patiently’ Pursue Stable 2% Inflation –BOJ Maintains Negative Short-Term Rate, Zero Long-Term Rate; Keeps 1% Loose Upside Limit on 10-Year JGB Yield By Max Sato (MaceNews) – The Bank of Japan said Tuesday its policy board decided unanimously, as widely expected, to maintain its seven-year-old yield curve control framework and retain its […]
Japan October Core Machine Orders Post 2nd Straight M/M Rise on Persistent Digitization Demand but Computer Orders Mixed After Recent Gains
–Core Orders Mark 8th Straight Y/Y Drop Despite Solid FY23 Capex Plans –Cabinet Office Keeps View: Machine Orders Pausing By Max Sato (MaceNews) – Japanese core machinery orders, the key leading indicator of business investment in equipment, unexpectedly posted a second straight monthly gain in October, up 0.7%, after rebounding an above-forecast 1.4% in September […]
Analysis: Bank of Japan Cautious About Lifting Negative Short-Term Rate Target Until Confirming Path to Higher Wages in April
By Max Sato (MaceNews) – Bank of Japan policymakers are expected to maintain the current easing stance for now as they are likely to refrain from raising interest rates at least until April, when they may be able to see a clearer sign that wages will continue rising substantially in the next fiscal year. In […]
BOJ December Quarter Tankan: Major Manufacturers’ Sentiment Posts 3rd Straight Rise on Improved Supply Chains but Outlook Cautious on High Costs, Labor Shortages
–Major Non-Manufacturers’ Confidence Up for 7th Straight Quarter –Many Sectors Expect Pullback in March in Payback for Recent Improvement –Large Firms’ Combined Fiscal 2023 Capex Plans Revised Down Only Slightly; Small Firms Raise Theirs Further By Max Sato (MaceNews) – Confidence among manufacturers and non-manufacturers in Japan all picked up more than expected in December […]
Japan November Producer Inflation Eases Further to 0.3% from October’s 0.9% on Utility Subsidies, Slower Global Demand
–November’s 0.3% Y/Y Rise Remains Lowest Since 0.9% Drop in February 2021 –Producer Prices Up 0.2% M/M for 1st Rise in 3 Months on Rebound in Fuels, Non-Ferrous Metals By Max Sato (MaceNews) – Producer inflation in Japan eased for the 11th straight month in November, slowing to a 0.3% rise on the year from […]
Preview: BOJ December Tankan to Show Major Manufacturer Sentiment Up for 3rd Straight Quarter on Improved Supply Chains, Lower Import Costs
–Major Non-Manufacturer Confidence Seen Unchanged; Inbound Spending High but Labor Shortages Bite –Firms in Many Sectors Likely to Be Wary of Near-Term Outlook Amid Slowing Global Growth –Large Firms Seen Revising Down Fiscal 2023 Capex Plans; Small Firms to Raise Theirs Further By Max Sato (MaceNews) – The Bank of Japan’s quarterly Tankan business survey […]
Japan Q3 GDP Contraction Revised Down on Larger-Than-Expected Private Sector Inventory Drop; Domestic Demand Weak
–Slump Due to Net Exports Pullback, Private Inventories Plunge, Weaker Public Works, Capex –Consumption Revised Down to Slight Drop from Flat as Demand for Eating Out, Traveling Wanes Amid High Costs –Q4 GDP Seen Up but Faces Slowing Global Demand, Domestic Labor Shortages By Max Sato (MaceNews) – Japan’s first economic contraction in four quarters […]
Japan November Tokyo Core CPI Annual Rate Eases as Processed Food Markups Have Peaked, Hotel Fees Jump in Reaction to Last Year’s Subsidized Drop
–Services Costs Now Rising Faster Than Goods Prices Amid Wage Hikes –Core CPI (Ex-Fresh Food) +2.3% Y/Y Vs. +2.7% in October –Total CPI +2.6% Vs. +3.2% on Lower Fresh Food Price Rise After October’s Spike –Core-Core CPI (Ex-Fresh Food, Energy) Moderates to +3.6% from +3.8% By Max Sato (MaceNews) – Consumer inflation in Tokyo, the […]