AEIR 2019/2020

Japan continued its recovery in 2018, with the economy expanding 0.8% on returning domestic demand. However, the Q1 and Q3 output contractions dragged annual growth down from the 2017 growth of 1.9%. Weakness in the all-important external sector caused the drop, with net exports slowing growth in the last 3 quarters, and by natural disasters that disrupted Q3 activity. Other recent indicators suggest the recovery in domestic demand is fragile, particularly in business investment. As trade tensions continue to threaten global trade and growth, and as domestic business sentiment wanes, the forecast for 2019 is a cautious 0.8% and 0.6% for 2020.
Source: Asian Development Outlook 2019, ADB.
Latest Month-Ago Year-Ago
Composite Stock Price Index 1 23.0 (Dec19)23.0 20.0
Broad Money Growth 2 2.3 (Oct19)2.3 1.7
Headline Inflation Rate 3 0.5 (Nov19)0.2 0.9
Industrial/ Manufacturing Production Growth Rate 3 -8.1 (Nov19)-7.7 1.9
Merchandise Export Growth 3 -4.1 (Nov19)-4.1 -5.4
Exchange Rate Index 4 94.5 (Dec19)94.4 97.2
1 Monthly average, local index.
2 %.
3 y-o-y, %.
4 Monthly average, January 2006 = 100, $/local currency.
Source: Bloomberg LP; CEIC database; Ministry of Economy, Trade and Industry; Ministry of Finance.

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