Japan Chart Pack Wage growth remains the missing link The Bank of Japan’s efforts to lift inflation to 2% continue to face a number of headwinds. Spare capacity widened last quarter as output dropped, oil prices have fallen to fresh lows, and market... 4th September 2015 · 1 min read
Japan Chart Pack Price pressures to strengthen only gradually There are tentative signs that underlying price pressures have strengthened again since the start of the year. However, GDP almost certainly shrank in Q2, and a rapid rebound in the second half of the... 5th August 2015 · 1 min read
Japan Chart Pack Activity slowdown dents hopes of strong price gains The Bank of Japan’s preferred inflation measure fell to near zero in May. Policymakers appear confident that a vigorous recovery in demand will create capacity shortages and boost price pressures in... 2nd July 2015 · 1 min read
Japan Chart Pack Yen falls to 13-year low against the US-dollar The diverging prospects for monetary policy in Japan and the US have resulted in a renewed weakening of the yen in recent weeks. With price pressures set to remain subdued, we think that the Bank of... 3rd June 2015 · 1 min read
Japan Chart Pack Japan’s stock market should continue to outperform Recent data suggest that economic activity held up fairly well at the start of the year and that the labour market continues to tighten. However, there are no signs that price or wage pressures are... 7th May 2015 · 1 min read
Japan Chart Pack Broad-based weakness supports case for more easing While the economic recovery seemed to have picked up pace at the start of the year, recent data have dashed hopes of rapid growth. Consumers are not spending the windfall from lower energy prices, and... 8th April 2015 · 1 min read
Japan Chart Pack Low inflation puts policymakers in a bind While the economy didn’t expand as much as many had hoped last quarter, more recent data have been promising. The labour market remains tight and corporate profits have never been higher, so the... 4th March 2015 · 1 min read
Japan Chart Pack Price pressure moderates despite rebound in activity The economy appears to have grown rapidly last quarter, and the labour market has not been as tight since the late 1990s. However, wage growth remains sluggish despite a temporary boost from winter... 5th February 2015 · 1 min read
Japan Chart Pack Economy leaving sales tax weakness behind Recent data suggest that the economy has finally shed the manacles of the sales tax hike. However, demographic headwinds are building, and real wages continue to fall despite the recent slowdown in... 7th January 2015 · 1 min read
Japan Chart Pack Growth returning, price pressures still weak After a period of uncertainty and disappointing data, which contributed to Prime Minister Abe’s decision to postpone the sales tax hike, the clouds have started to clear. There are good reasons to... 3rd December 2014 · 1 min read
Japan Chart Pack Stock market cheers policy moves The Nikkei has soared following the Bank of Japan’s decision to step up the pace of monetary easing. The yen has also weakened, which is good news for exporters. Less widely noticed is that, after a... 6th November 2014 · 1 min read
Japan Chart Pack Economy skirting recession The ongoing slide in industrial production and the weakness of the Tankan have raised concerns that Japan’s economy is in recession. It will be a close-run thing, but more important is what happens... 8th October 2014 · 1 min read
Japan Chart Pack Weak activity data increase pressure on BoJ The latest data have done little to assuage doubts about the strength of the recovery. The economy contracted sharply in Q2 and industrial production and retail sales remained sluggish at the start of... 3rd September 2014 · 1 min read
Japan Chart Pack Doubts creeping in about the strength of the recovery While the economy initially seemed to bounce back quickly from the shock caused by the consumption tax hike, recent data have already cast doubt on the strength of the recovery. Machinery orders have... 6th August 2014 · 1 min read
Japan Chart Pack Economy proving resilient to tax hike The latest data suggest that the tax hike has not had a lasting impact on Japan’s economy. Business surveys have mostly rebounded, spending has too, and manufacturing output has stabilised. What’s... 3rd July 2014 · 1 min read
Japan Chart Pack Tax hike-related slump should be short-lived Unsurprisingly, consumer spending plunged in April after the consumption tax hike, and industrial production weakened as well. But machinery orders have climbed to a fresh high, which suggests that... 4th June 2014 · 1 min read