Japan Archive

IMF re France, truck tonnage, China PMI, Japan PMI

More of same pro cyclical pressure: France slammed by IMF for record-high spending By Holly Ellyatt May 20 (CNBC) — The International Monetary Fund (IMF) has warned France that it must reduce government spending and debt levels, as well as tackling its sticky unemployment rate. The IMF said in its latest economic ...Read More

Japan Q1 GDP, Sea Containers, home building charts

Looks like mainly inventory building: Japan : GDP Highlights The Japanese economy appears to be recovering with its second consecutive quarter of growth. First quarter gross domestic product was up 0.6 percent on the quarter – consensus was for a 0.4 percent quarterly gain. On an annualized basis, GDP was up 2.4 ...Read More

Redbook retail sales, Small business confidence, JOLTS, Japan budget

So now they don’t have Easter to kick around anymore and they’re still weak: Redbook Retail sales picked up slightly in the May 9 week as Easter-effects finally fade, but at a year-on-year plus 2.1 percent sales remain soft. Redbook reports an as-expected Mother’s Day holiday in the week and reports early ...Read More

Atlanta Fed, Japan and China, rail car traffic, Saudi output

Currently a .9 forecast for Q2, well below other estimates again: More global deceleration: Japan : Household Spending Highlights Household spending declined for a twelfth straight month in March. On the year, spending was down 10.6 percent after sliding 2.9 percent in January. Consumption has been weak since last April when Japan ...Read More

global glympse

Germany : Retail Sales Highlights Retail sales followed a smaller revised 0.1 percent dip in February with a surprisingly hefty 2.3 percent monthly slump in March. The drop was the steepest since December 2013 but friendly base effects were enough to ensure that the first back-to-back decline since April/May 2014 still boosted ...Read More

Japan retail sales, UK GDP, small business lending, Steven Hansen May forecast, Dallas Fed

In case anyone thinks currency depreciation and tax hikes were the path to domestic bliss: Japan : Retail Sales Highlights Retail sales plummeted a greater than expected 9.7 percent from a year ago. This was the third consecutive month sales declined. March’s result marks a fresh historic low in the data. The ...Read More

PMI’s, Housing sales data, Yellon on oil

A few more PMI’s showing weakness: Japan : PMI Manufacturing Index Flash Highlights Manufacturing weakened for a third consecutive month. The flash April manufacturing PMI reading was 49.7, down from 50.3 in March. A reading below 50 indicates contraction. The output index also slipped below 50 to a reading of 49.7, down ...Read More

sea container counts, state labor force stats, mtg purchase apps, existing home sales, FHA home prices, Japan headline

March 2015 Sea Container Counts Are Not Strong Even Though the Labor Troubles Are Over By Steve Hansen The West Coast Ports labor dispute is over, and appears the backlog has been eliminated causing a spike in exports. However, not only is year-to-date volumes contracting for both imports and exports – but ...Read More

Trade, factory orders, rail traffic, Japan PMI

Imports and exports both down. Note the last two time this happened in any magnitude sort of match up to the last two recessions: February 2015 Trade Data Shows a Mixed Picture of the Economy By Steven Hansen Written by Steven Hansen A quick recap to the trade data released today shows ...Read More

JPM, MS Q1 revision, Fed labor market conditions index, German exports fall, Japan GDP

From JPM: In light of the data we’ve received this week – January reports for real consumer spending, construction spending, and net exports that varied from disappointing to downright weak, as well as a softer February print for car sales –– we are marking down our tracking for annualized real GDP growth ...Read More