Japan June Core CPI Y/Y Rise Picks Up to 3.3% from May’s 3.2% on Year
Electricity Charge Markups; Processed Food Prices Remain High –Total CPI +3.3% Y/Y, Also Up From +3.2% in May but Slowing from +3.5% Y/Y in April, 41-Year High of +4.3% in January –Core-Core CPI (Ex-Fresh Food, Energy) Annual Rate Eases to 4.2% from May’s Nearly 42-Year High of 4.3% By Max Sato (MaceNews) – Consumer inflation […]
Japan June Exports Post Modest Gain on Autos, Construction Machines but Volumes Continue to Drop on Slow Global Demand for Chips, Steel
–Imports Mark 3rd Straight Y/Y Fall on Easing Energy Prices –Japan Posts 1st Trade Surplus in 23 Months on Sharp Import Drop–Exports to China Record 7th Straight Y/Y Drop on Iron and Steel, Semiconductors By Max Sato (MaceNews) – Japanese export values posted a modest rise on the year in June as recovering supply chains […]
Japan June Producer Inflation Eases Further to Fresh 2-Year Low of 4.1% from May’s 5.2% on Energy Subsidies, Falling Lumber Prices, Generally Easing Commodities
–June’s 4.1% Y/Y Rise Lowest Since 3.8% in April 2021 –December’s 10.6% Surge Remains Highest in 42 Years By Max Sato (MaceNews) – Producer inflation in Japan eased for the sixth straight month in June, hitting a fresh two-year low, as the government’s expanded utilities subsidies continued to cap energy costs and many commodities markets […]
Japan May Machine Orders Slump After April Rebound, Led by Pullback in Computer Demand from Financial, Transport Sectors
–Cabinet Office Keeps View: Machine Orders Pausing –Core Machinery Orders Unlikely to Achieve Official Forecast of 4.6% Q/Q Rise in April-June –BOJ’s June Quarter Tankan Survey Has Shown Firms Revise Up FY23 Capex Pans By Max Sato (MaceNews) – Japanese machinery orders, the key leading indicator of business investment in equipment, came in much weaker […]
Japan May Household Spending Slumps on Volatile Factor of Mobile Vehicle Purchases, Financial Support
–Drop Also Due to Continued Shift to Lower Mobile Phone Plans; Spending on Traveling, Eating Out Remains Strong –Real Household Income Posts 8th Straight Y/Y Drop on Elevated Costs, Shorter Overtime Working Hours By Max Sato (MaceNews) – Japan’s real household spending fell more sharply than expected in May for a third straight decline on […]
BOJ June Quarter Tankan: Major Manufacturers’ Sentiment Posts 1st Rise in 7 Quarters on Improved Supply Chains, Food Price Markups
–Carmakers Expect Brighter Outlook in September; Food Producers See Pullback After Large Gain in June –Hotels, Restaurants See Slightly Lower September Sentiment After Jump in June; Real-Estate firms, Wholesalers Forecast Sizeable Declines –Both Large and Small Firms Revise Up Their Combined Capex Plans for Fiscal 2023 By Max Sato (MaceNews) – Confidence among major manufacturers […]
Japan May Industrial Production Slips as Parts Shortages Hit Auto Industry Again After Recent Pickup; Output Rebounds on Year
–METI Survey: Output Likely to Post Solid Gain in June, Slight Dip in July –METI Keeps View After Upgrade for March Data: Output Showing Gradual Pickup –METI Repeats: To Watch Effects of Parts Shortages, Inflation By Max Sato (MaceNews) – Japan’s industrial production posted its first drop in four months in May as automobile output […]
Japan May Jobless Rate Unchanged at 2.6% on Flat Job Cuts, Fewer People Looking for Work; Solid Job Creation on Year Continues
–Fewer People Quit for Other Openings or Start Looking for Work on Month; No Change in Job Losses, Retirements –Jobs Up Y/Y for 10th Straight Month, Led by Manufacturing, Hotels, Restaurants, Rebound in Construction –Number of Unemployed Marks 1st Drop in 3 Months By Max Sato (MaceNews) – Japanese payrolls posted their 10th straight year-over-year […]
Japan May Retail Sales Y/Y Rise Led by Autos amid Improved Supply Chains, Recovering Department Stores
–METI Keeps View: Retail Sales on Gradual Uptrend –Demand for Cosmetics, Drugs Remains Solid; Sales of Appliances Stay Sluggish By Max Sato (MaceNews) – Japanese retail sales posted their 15th straight year-over-year increase in May, thanks to faster deliveries of automobiles, gradually recovering department store sales and higher prices for food and beverages, mitigating the […]
BOJ June Meeting Summary: Board Warns Against Premature End to Monetary Easing as Inflation Outlook Has Both Upside, Downside Risks
–But Board Also Sees Need to Review Yield Curve Control Policy Framework Due to Its ‘High Cost’ By Max Sato (MaceNews) – Bank of Japan board members warned that a premature end to the bank’s decade-old large-scale monetary easing would undermine an emerging path toward stable 2% inflation with sustainable wage growth, according the summary […]