Tag: Japan

Japan’s economy contracted less than initially reported in January-March on upward revisions to capital spending and inventory data, lending modest support to the central bank’s plans to raise interest rates again this year.

Data from Japan’s Ministry of Finance Friday confirmed the country’s first currency intervention since 2022, after the Japanese yen plunged to a 34-year-low in April.

Japan’s currency surged as much as 5 yen against the dollar on Monday, with traders citing heavy yen-buying intervention by Japanese banks for the first time in 18 months after the currency hit fresh 34-year lows earlier in the day.

Japan’s economy avoided a technical recession, revised government data showed on Monday, even though the upward change in the fourth quarter was weaker than expected and highlighted concerns about the sluggish economic recovery.

Consumer price index inflation in Japan’s capital rebounded from 22-month lows in February, increasing the prospect of sticky inflation in the country and putting any potential rate hikes from the Bank of Japan squarely in focus. 

For the whole of 2023, Japan’s nominal GDP grew 5.7% over 2023 to come in at 591.48 trillion yen, or $4.2 trillion based on the average exchange rate in 2023.

Japan’s PPI records a slowdown from 0.3% yoy to 0.0% yoy in December, above expectation of -0.3% yoy. Nevertheless, this figure represents the lowest PPI reading since -0.9% yoy decline in February 2021.

Core inflation in Japan’s capital slowed for the second straight month in December as cost-push price pressures continued to ease, data showed on Tuesday, taking some pressure off the central bank to rush into exiting ultra-loose monetary policy.

Japan’s core inflation slowed sharply in November to a pace unseen in over a year, data showed on Friday, highlighting easing cost-push pressures that may give the central bank more time before phasing out its massive monetary stimulus.

Japan’s government on Thursday slightly raised its economic growth projections for this fiscal year from its previous estimates, as external demand is likely to more than offset weak domestic consumption, the Cabinet Office said.

Japan’s exports in November fell for the first time in three months dragged down by China-bound chip shipments, underscoring worries that slowing overseas economies will complicate policymakers’ efforts to wind back on stimulus.

PPI rose 0.3% year on year as pace slowed for 11th month

Japan’s economy fell faster than first estimated in the third quarter, revised data showed on Friday, as the household sector faced growing headwinds, complicating the central bank’s efforts to phase out its accommodative monetary policy.

TOKYO, Dec 5 (Reuters) – Core inflation in Japan’s capital slowed in November, underscoring the central bank’s view that cost-push pressures in the world’s third-largest economy will gradually dissipate.

Japan’s economy presents a mixed picture based on the latest data for October 2023. Industrial production saw a notable increase, rising 1.0% mom, exceeding expectations of a 0.7% increase.

TOKYO, Nov 24 (Reuters) – Japan’s factory activity shrank for a sixth straight month in November, while modest growth in the service sector was little changed, a business survey showed on Friday, highlighting the fragility of the economy amid soft demand and inflation.

TOKYO, Nov 20 (Reuters) – Japan’s big employers are set to follow this year’s bumper pay hikes with another round in 2024, which are expected to help lift household spending and give the central bank the conditions it needs to finally roll back massive monetary stimulus.

Third quarter GDP contracted 2.1% from a year ago, after growing 4.8% in the second quarter, compared to expectations for a 0.6% decline in a Reuters poll.

TOKYO, Oct 27 (Reuters) – Core consumer inflation in Japan’s capital Tokyo, considered a leading indicator of nationwide trends, unexpectedly accelerated in October, a sign of broadening price pressures that may keep alive expectations of near-term end to ultra-low interest rates.

TOKYO, Oct 19 (Reuters) – Japan’s exports hit a record level in September, climbing for the first time in three months as automakers revved up shipments to the U.S. and Europe, unshackled from a global chip shortage that had held them back a year earlier.