Japan Economic Outlook
January 30, 2018Strong global demand, especially for high-tech electronics, and the Bank of Japan (BoJ)’s ultra-accommodative monetary policy continued to shore up economic activity in Q4. Healthy international demand for Japanese goods sent the manufacturing PMI to multi-year highs, and boosted capital expenditure. Robust economic activity is increasing job creation, with the unemployment rate hitting a 25-year low in November. Moreover, a tighter job market is adding upward pressure on salaries, which is translating into stronger retail sales. Japan, along with another 11 countries, agreed on 23 January to sign a new version of the Trans-Pacific Partnership trade deal on 8 March, without the U.S. The accord is a win for Prime Minister Shinzo Abe, who had struggled to save the pact following President Donald Trump’s decision to pull the U.S. out from the agreement in January 2017.
Japan Economic GrowthEconomic growth should remain strong this year on the back of resilient global trade and accommodative financial conditions. Japan’s stellar growth trajectory could, however, be clouded by a disorderly slowdown in China, higher trade barriers and an appreciation of the JPY due to mounting geopolitical risks. Met the why particular panelists see the economy growing 1.3% in 2018, which is up 0.1 percentage points from last month’s forecast. For 2019, they see growth at 1.0%.
Japan Economy Data
5 years of Japan economic forecasts for more than 30 economic indicators.
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|Bond Yield||0.06||-4.41 %||Feb 20|
|Exchange Rate||117.3||-0.35 %||Feb 20|
|Stock Market||21,925||0.11 %||Feb 20|
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Japan Economic News
February 19, 2018
Nominal yen-denominated exports increased 12.2% year-on-year in January, accelerating from December’s 9.3% rise and coming in above market expectations of 9.4% growth. January’s increase was driven by solid growth in exports of machinery and electrical machinery, followed by exports of chemicals, manufactured goods and transport equipment, all of which accelerated sharply relative to December’s readings.
February 15, 2018
Core machinery orders—a leading indicator of capital spending over a three to six month period—tumbled in December at the fastest pace since May 2014.
February 14, 2018
Japan’s economy ended 2017 on a weaker footing, due to a negative contribution from net exports resulting from a surge in imports in the fourth quarter.
January 31, 2018
Consumer sentiment was unchanged in January at December’s 44.7.
January 31, 2018
Industrial production rose 2.7% in December compared to the previous month in seasonally-adjusted terms, up from November’s 0.5% increase.