Japan December Retail Sales Post Solid Gain; Freezing Weather Boosts Clothing Demand
–METI Keeps View: Retail Sales Picking Up; Sales Rebound on Month–Retail Sales Continue Rising Q/Q in Q4, Annual Pace Accelerates in 2022–Department Store Sales on Recovery Track, Shrinking Drop from Pre-Pandemic Levels–Demand for Cosmetics, Drugs Remains Strong; Auto Sales Dip After Recent Pickup By Max Satp (MaceNews) – Japanese retail sales posted the 10th straight […]
Japan December Industrial Output Nearly Flat on Slower Global Demand; Decline Smaller Than Expected
–METI Survey: Output Likely to Slump in January, Rebound in February–METI Keeps View After 2nd Straight Downgrade: Output Has Weakened–METI Repeats: To Watch Effects of a Rise in Covid Cases, Parts Shortages, Inflation By Max Sato (MaceNews) – Japan’s industrial production was nearly flat in December on cooling global demand, but down by a smaller-than-expected […]
<strong>Japan December Tokyo Core CPI Up 4.3% Y/Y, A Fresh 41-Year High on Soaring City Gas Charges, Smaller Hotel Fee Drop</strong>
–Total CPI Jumps 4.4% Y/Y, Highest in Over 41 Years With or Without Effects of 2014, 1997 Sales Tax Hikes –Narrow CPI (Ex-Fresh Food, Energy) Also Surges 3.0%, More Than 30-Year High By Max Sato (MaceNews) – Consumer prices in Tokyo, the leading indicator of the national average, continued their relentless surge above 4% in […]
<strong>BOJ January Meeting Summary: Economy Still Needs Easy Policy Support for Sustainable Wage Growth</strong>
–Members Agree Cost-Push Price Pressures to Wane in FY23, Need Demand-Pull Inflation for Price Stability –Members See Need to Assess Costs and Benefits of Super-Low Interest Rates in Future but Not Now By Max Sato (MaceNews) – Bank of Japan board members agreed that the economy still needs very accommodative monetary policy support for sustainable […]
Japan Government Sees Soft Spots in Economy in its 1st Downgrade of Overview in 11 Months as Global Demand Cools
By Max Sato (MaceNews) – Japan’s government Wednesday downgraded its economic assessment for the first in 11 months, citing slower growth in exports amid weaker global demand, while maintaining its view that modest recovery is in place, according to its monthly report released by the Cabinet Office. In its January report, the government said the […]
<strong>Japan December Exports Continue Slowing Amid Lower Global Demand; Trade Deficit Hits Record in 2022 </strong>
–Japan Posts 17th Straight Month of Trade Deficit on Oil, Gas Import Costs–Exports to US Remain High After Hitting Record High in October –Exports to China Mark 1st Y/Y Drop in 7 Months Amid Renewed Covid Spike in China By Max Sato (MaceNews) – Growth in Japanese export values lost more steam in December on […]
<strong>BOJ Keeps Easing Stance Amid Slowing Global Growth, Expects Cost-Push Inflation to Lose Steam in FY23</strong>
–Board Sees 3% Core CPI Rise in FY22 to Slow to 1.6% in FY23, 1.8% in FY24 –Board Revises Down GDP Forecasts to 1.9% in FY22, 1.7% in FY23, 1.1% in FY24 By Max Sato (MaceNews) – The Bank of Japan said Wednesday its policy board decided unanimously to maintain its basic monetary easing stance, […]
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 […]