Japan Economic Outlook
October 27, 2020
Available data points to an improving but still-subdued panorama in the third quarter, following the sharp contraction sustained by the economy in the second quarter. The unemployment rate hit an over three-year high in August, while consumer confidence remained mired in pessimism, despite improving to its best level since February, likely keeping a lid on the rebound in private consumption in the third quarter. Moreover, the much-studied Tankan business confidence survey for Q3 remained deeply negative, boding ill for capital spending in the period. Turning to Q4, the economy began the period on a muted footing, with the composite PMI remaining deep in contractionary territory in October. Moreover, the recent resurgence in cases abroad could weigh on the external sector in the months ahead.Japan Economic Growth
GDP is forecast to rebound in 2021 from the sharp downturn this year. Sustained government spending should bolster the recovery in domestic demand, while improving external demand should drive higher exports. However, persistent rates of new Covid-19 infections and a potential worsening of the China-U.S. trade conflict cloud the outlook. FocusEconomics panelists see the economy expanding 2.7% in 2021, which is unchanged from last month’s forecast, and 1.6% in 2022.Japan Economy Data
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Japan Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | -0.02 | -4.41 % | Dec 30 |
| Exchange Rate | 108.7 | -0.35 % | Jan 01 |
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Japan Economic News
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Japan: Industrial output rebounds in March
April 30, 2021
Industrial production increased 2.2% month-on-month in seasonally-adjusted terms in March, contrasting the 1.3% fall in February.
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Japan: Consumer sentiment deteriorates in April
April 30, 2021
The consumer confidence survey came in at 34.7 in April, down from the 36.1 clocked in March.
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Japan: Bank of Japan holds policy steady at April meeting; upgrades 2021 growth outlook
April 27, 2021
At its meeting ending on 27 April, the Bank of Japan (BoJ) left its monetary policy unchanged, as widely expected by market analysts.
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Japan: Composite PMI in expansionary territory for first time in 15 months in April
April 23, 2021
The Jibun Bank Composite Purchasing Managers’ Index (PMI)—which combines the PMIs of the services and manufacturing sectors—inched up to 50.2 in April according to a flash reading, marginally above March’s final figure of 49.9.
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Japan: Core consumer prices record smallest fall in eight months in March
April 23, 2021
Core consumer prices increased 0.20% over the previous month in March, accelerating from the 0.10% rise recorded in February. Core consumer prices—which exclude fresh food—fell 0.1% in annual terms in March, following February’s 0.4% fall.
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