Japan July Export Rise Led by Semiconductors, Autos from US, Asia, Offsetting Slow Shipments to Europe; Trade Deficit Wider Than Expected
–Imports Surge on Drugs, Computers, Crude Oil as Relatively Weak Yen Keeps Costs High–Exports to China Post 8th Straight Y/Y Rise Following Last Year’s Slump–Exports to US Remain Robust; Those to EU Mark 4th Straight Y/Y Decline By Max Sato (MaceNews) –Japanese export values rose 10.3% for the eighth straight year-over-year increase in July, led […]
Japan Q2 GDP Rebounds on Resumed Auto Output, Wage Hikes; Heat Wave Also Boosts Consumer Demand for Air Conditioners, Summer Goods
–Q2 GDP +0.8% Q/Q, +3.1% Annualized, Above Median Forecasts of +0.6%, +2.3%–Domestic Demand Pushes Up GDP by 0.9 Point, Net Exports Trim Growth by 0.1 Point By Max Sato (MaceNews) – Japan’s gross domestic product for the April-June quarter posted a stronger-than-expected rebound after suffering its first contraction in two quarters in January-March, up a […]
Preview: Japan Q2 GDP to Post Modest Rebound After Slumping in Q1 but Consumption Remains Sluggish amid High Costs
By Max Sato (MaceNews) – Japan’s gross domestic product for the April-June quarter is forecast to post a modest rebound after suffering its first contraction in two quarters in January-March, up 0.6% on quarter, or an annualized 2.3%, as consumption and business investment picked up from the drag of suspended output at Toyota group factories […]
Japan June Producer Prices Up 3.0% Y/Y As Expected After 2.9% Rise in June; Utility Subsidies End, Global Demand for Lumber, Steel Picks Up Amid Rising Concerns Over Chinese Recovery
–Import Costs High as Yen Stayed Weak Before Firming on Stealth MOF Intervention at End-July, Fears of Faster BOJ Rate Hikes—Producer Inflation Remains Below Recent Peak of 10.6% in December 2022–Producer Prices Up 0.3% M/M on Utilities, Farm Produce, Summer Beverages, Cars By Max Sato (MaceNews) – Producer inflation in Japan continued accelerating to 3.0% […]
Bank of Japan Board Members See Upside Risks to Inflation Outlook at July Meeting; Some Note Low Real Rates, Others Warn of Weak Consumption
–One Member Estimates Minimum 1% Neutral Rate, Calls for Gradual Pace of Rate Hikes By Max Sato (MaceNews) – Bank of Japan board members called for a close watch on upside risks to their inflation outlook amid labor shortages and higher import costs, with a majority seeking to justify a follow-up interest rate by pointing […]
Japan June Overall Household Spending Dips Y/Y on Volatile Factors but Core Reading Records 1st Rise in 16 Months as Heat Wave Boosts Demand for Air Conditioners
–Consumers Remain Frugal, Switching to Discount Mobile Phone Plans–High Wage Hikes amid Labor Shortages Lead to 2nd Straight Rise in Average Household Income–Base Wages Mark Highest Growth in Nearly 3 Decades; Real Wages Up for 1st Time in 27 Months By Max Sato (MaceNews) – Japan’s real household spending posted its second straight year-over-year drop […]
Bank of Japan Hikes Overnight Rate Target to 0.25% from Range of 0% to 0.1% in 7 to 2 Vote
–BOJ Releases Specific Plans to Trim its Monthly JGB Purchases to Y3 Trillion from Y6 Trillion by end of Q1 2026–BOJ Governor Ueda: Raised Rates Because Economy, Prices Have Been on Track–Ueda: Weak Yen Impact on Prices ‘Not Necessarily Biggest Reason’ for Rate Hike By Max Sato (MaceNews) – The Bank of Japan said Wednesday […]
Japan June Retail Sales Up 3.7% Y/Y Rise Vs. 2.8% in May as Delayed Rainy Season Boosts Demand for Summer Clothing, Air Conditioners
–METI Upgrades View for 2nd Straight Month: Retail Sales on Uptrend Vs. Gradual Uptrend By Max Sato (MaceNews) – Japanese retail sales rose 3.7% on year in June, above the consensus call of a 3.0% rise, with the pace of increase accelerating from a downwardly revised 2.8% gain in May, thanks to a delayed rainy […]
Preview: Bank of Japan Expected to Keep Rate Target This Week, Seek Rate Hike in September if Data Shows Wage Hikes Spreading to Smaller Firms, Pushing Up Weak Services Costs
By Max Sato (MaceNews) – The Bank of Japan board is widely expected to maintain its policy stance at its two-day meeting this week and wait until its next meeting on Sept. 20-21 to follow up on its first rate hike in 17 years in March by raising the overnight interest rate target to 0.25% […]
Japan Government Keeps Its View on Economic Recovery amid Wage Hikes, Warns of Drag from High US, European Rates, China’s Real-Estate Woes
By Max Sato (MaceNews) – Japan’s government maintained its overall assessment that the economy is recovering “moderately” and is likely to stay on course as many firms are raising wages at a higher pace to secure workers and although exports are now largely flat. In its monthly report released Thursday by the Cabinet Office, the […]