Japan

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Japanese Household Spending Continues Decline, Drops 2.5% for Eighth Consecutive Month

The Japanese Ministry of Internal Affairs and Communications released figures indicating a concerning trend in household spending for October, revealing a 2.5% year-on-year decline. This marks the eighth consecutive month of dwindling household expenditure, although it slightly surpassed market expectations, which had anticipated a steeper 3.0% fall. According to the report, households comprising two or …

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Japan to Monitor Foreign Exchange Market as Yen Surges Amid BOJ’s Potential Policy Shift

In response to a sharp rise in the yen against the US dollar, Japan’s Minister of Finance, Mr. Shunichi Suzuki, announced that the government is closely monitoring developments in the foreign exchange market. This surge in the yen was prompted by growing speculations surrounding the Bank of Japan (BOJ) potentially phasing out its ultra-low interest …

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Japan’s Q3/23 GDP Forecast Slashed to 2.9% Contraction, Impacted by Export and Consumption Slowdown

The Japanese government has revised its Gross Domestic Product (GDP) forecast for the third quarter of 2023, indicating a more significant downturn than initially projected. The latest figures reveal a year-on-year shrinkage of 2.9%, worsening from the initial estimate of a 2.1% contraction. This downward spiral is attributed to weakened consumption within Japan and a …

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Japanese Companies Boost Capital Spending by 3.4% in Q3/23 Amid Economic Headwinds

The Japanese Ministry of Finance’s latest report has unveiled a notable uptick in capital spending by Japanese companies during the third quarter of 2023 (July-September), marking a significant increase of 3.4% compared to the same period a year earlier. Despite the prevailing economic slowdown, this marks the 10th consecutive quarter of expansion, although the pace …

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Japanese Retail Sales Extend Growth Streak for 20th Consecutive Month, Surpassing Expectations

Japan’s retail sector continued its upward trajectory in October, marking an impressive 4.2% year-on-year increase in sales, as reported by the Japanese Ministry of Economy, Trade, and Industry. This sustained growth represents the 20th consecutive month of expansion for retail sales within the country. While the remarkable upswing demonstrates the robustness of Japan’s retail market, …

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Japanese Industrial Production Surges by 1.0% in October, Exceeding Forecasts

In a robust surge, Japan’s industrial output climbed by 1.0% month-on-month during October, surpassing market expectations that had anticipated a more modest increase of 0.8%. The data released by Japan’s Ministry of Economy, Trade, and Industry has underscored a promising growth trajectory within the country’s industrial sector. This unexpected rise in industrial production in October …

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Japan’s Manufacturing Sector Shrinks for Sixth Consecutive Month Amid Weak Demand

Continuing on a downward trajectory, Japan’s manufacturing sector witnessed its sixth consecutive month of contraction, according to a survey conducted by Jibun Bank. This prolonged decline, juxtaposed with a largely stagnant service sector, accentuates the economy’s vulnerability amidst subdued demand. The latest figures for Japan’s primary manufacturing Purchasing Managers’ Index (PMI) for November reveal a …

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Japanese Inflation Hits 2.9% in October, Continues Above BOJ Target for 19th Consecutive Month

Japan’s latest inflation figures reveal a persistent upward trend, with the Core Consumer Price Index (Core CPI) registering a 2.9% year-on-year surge in October, marking the 19th consecutive month above the Bank of Japan’s (BOJ) 2% target. The recent government data disclosed that the Core CPI, excluding food prices, saw a steady climb, escalating from …

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Japan Slashes Economic Outlook for the First Time in 10 Months Amid Weak Domestic Demand

The Japanese government has revised its economic forecast downwards for November, marking the initial downgrade in 10 months due to sluggish domestic demand. This reassessment comes on the heels of faltering capital and consumer spending, grappling with a slowdown in the pace of economic resurgence. Officials, for the first time since December 2021, have lowered …

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Japan Concludes Third Release of Radioactively Contaminated Water from Fukushima Plant

Today, Tokyo Electric Power Co. (TEPCO), the entity managing the Fukushima Daiichi nuclear power plant, announced the successful completion of the third round of releases of radioactively contaminated water. TEPCO disclosed that the treated radioactive contaminated water released during this phase amounted to 7,800 tonnes, mirroring the volume discharged in the previous two rounds. In …

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