Asia Regional Integration Center
Tracking Asian Integration
Japan continued to recover in 2019 on strong domestic demand. The economy expanded 0.7% from 0.3% growth in 2018. While both private consumption and private investment contributed to declining growth in the second half of 2019, net exports provided a much-needed boost. In January 2020, machinery orders increased by 2.9% month-on-month. However, this positive start was disrupted by the COVID-19 outbreak, which initially led to a severe economic downturn in the People’s Republic of China, and the postponement of the 2020 Summer Olympics. Thus, growth is forecast to contract 1.5% in 2020 before returning to 0.9% growth in 2021 as the government adopts stimulus measures.
Source: Asian Development Outlook 2020, ADB
Latest | Month-Ago | Year-Ago | |
---|---|---|---|
Composite Stock Price Index 1 | 28.0 (Jan21) | 26.0 | 23.0 |
Broad Money Growth 2 | 7.3 (Nov20) | 7.3 | 7.6 |
Headline Inflation Rate 3 | -1.2 (Dec20) | -1.0 | 0.8 |
Industrial/ Manufacturing Production Growth Rate 3 | -3.2 (Dec20) | -3.9 | -3.7 |
Merchandise Export Growth 3 | 7.2 (Dec20) | 7.2 | -0.1 |
Exchange Rate Index 4 | 89.9 (Jan21) | 89.9 | 94.7 |
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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