Japan Archive

Rail traffic, Business confidence, UK imports, Trade news

Deep in contraction: Looks to be below 2008 levels: So looks like the current tariffs remain. As previously suggested, the US President is narrowly focused on the money he’s collecting, as the tariffs remove $US net financial assets from the global economy and discourages transactions with the US. That is, it all ...Read More

Durable goods, Austria PMI, Trade, Trump comments

Now in contraction year over year: US Durable Goods Orders Drop for 2nd Month New orders for US manufactured durable goods fell 1.3% in May, after a 2.8% plunge in April and much worse than market expectations of a 0.1% drop. Transportation equipment, down three of the last four months, was mostly ...Read More

Retail sales, Industrial production, Interest payments, Japan profits, Euro area fiscal balance

Weak and weaker than expected: Highlights The second quarter gets off to a stumbling start pulled down by a 0.2 percent headline decline in an April retail sales report where the core details show unexpected weakness. Excluding autos, in which sales were already expected to fall sharply, April sales managed only a ...Read More

Employment, US PMI’s, Factory orders, Japan sales tax, HK, MMT comments

Headline number looks promising. The question is whether employment will lag the other indicators that are decelerating, or provide the support that turns them around. And note the .1 drop in the work week is equivalent to maybe to something over 100,000 jobs: Highlights That sound you hear is the economy revving ...Read More

Trade, Housing affordability, China, BOJ equity buying, Retail comment

Imports and exports both decelerating indicates a weaker global economy, and weak US retail sales indicates domestic consumer spending growth is slowing: Highlights First-quarter GDP looks to get a major boost from improvement in the nation’s trade deficit which, for February, came in at much lower-than-expected $49.4 billion. And the positives are ...Read More

Rate policy, Wholesale inventories

While there’s no dispute that there’s been a substantial global economic slowdown, stocks have been doing well due to investor belief that Fed will be there with lower rates to stem the deceleration and reignite growth. However, seems obvious to me that the Fed’s tools- low rates and QE- aren’t all they ...Read More

US manufacturing, and growth forecasts, LA port traffic, Japan trade

Decelerating global trade hitting home: U.S. manufacturing sector slowing as economy loses steam (Reuters) The Fed said manufacturing production dropped 0.4 percent last month. January was revised up to show output falling 0.5 percent instead of slumping 0.9 percent. Production at factories increased 1.0 percent in February from a year ago. Motor ...Read More

Small business index, BOJ on trade, China, Atlanta Fed

Trumped up expectations largely reversed: Highlights At 101.7, the small business optimism index fell short of expectations in February, recovering only 5 tenths of January’s 3.2 point dip. Econoday’s consensus was looking for 102.5 with the low estimate at 101.8. Employment plans lost ground for a second straight month with a turn ...Read More

Japan outlook, Rail traffic, Business inventories

Japan downgrades industrial outlook for first time in 40 months (Nikkei) The Japanese government on Thursday downgraded its monthly assessment of industrial output for the first time in more than three years. The Cabinet Office’s economic report for February says “weakness can be seen in some areas” of production, qualifying a view ...Read More

*exports to China, Philly Fed, US home sales, durable goods orders

Asia’s exports to China plunge as economy stumbles (WSJ) Japan’s exports to China in January sank 17.4% on the year to 958.1 billion yen ($8.65 billion), accelerating from December’s 7% drop. South Korean exports to China in January slid 19% on the year, a steeper rate than in the previous two months ...Read More