Current Account in Japan
Japan - Current AccountAlthough economic growth accelerated in the first quarter of the year, this was entirely driven by a sharp contraction in imports of goods and services, while exports and domestic demand both deteriorated from Q4 2018. Turning to Q2, consumer confidence fell to its lowest point in over three years in April, which does not bode well for household spending going forward. In further bad news, weak global demand continued to weigh on exports in April, while rising trade tensions between China and the United States cloud the outlook for Japan’s external sector as well as prospects for manufacturing activity. Meanwhile, Japan and the United States are also still thrashing out a deal in attempts to avert a trade war. Particularly, the U.S. is trying to gain greater access for its farm exports to Japan and using tariffs on Japanese car imports as a means to leverage pressure.
Japan - Current Account Data
|Current Account (% of GDP)||0.9||0.8||3.1||3.9||4.0|
5 years of economic forecasts for more than 30 economic indicators.
Japan Current Account Chart
Source: Bank of Japan and FocusEconomics calculations.
|Bond Yield||-0.11||-4.41 %||Jun 13|
|Exchange Rate||108.4||-0.35 %||Jun 13|
|Stock Market||21,032||0.40 %||Jun 13|
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June 12, 2019
Core machinery orders, a leading indicator for capital spending over a three- to six-month period, posted the third consecutive increase in April, suggesting that capital expenditure was normalizing before the new escalation in the trade war between China and the United States took place in late April.
June 10, 2019
Although comprehensive data for the first quarter corroborated that the economy expanded for the second consecutive quarter, it also confirmed that the print was mostly led by a sharp drop in imports.
May 31, 2019
Consumer sentiment declined from 40.4 in April to 39.4 in May.
May 31, 2019
Industrial production rose 0.6% on a month-on-month and seasonally-adjusted basis in April, contrasting March’s 0.6% decrease (previously reported: -0.9% month-on-month).
May 24, 2019
The core consumer price index rose 0.1% in month-on-month seasonally-adjusted terms in April, coming in above March’s flat reading. Core inflation inched up from March’s 0.8% to 0.9% in April.