Japan's Economic Indicator 2021

November 2021 Industrial Production

Government’s economic assessment revised upwards in response to sharp recovery in motor vehicles industry

November 2021 Consumer Price Index

Influence of energy prices increasingly strong, pushing core CPI up by +0.5% y/y

November 2021 Trade Statistics

Motor vehicle exports reach full recovery – export value achieves major growth

BOJ December 2021 Tankan Survey

Current business conditions DI improve due to resumption of economic activities, but there are concerns regarding increasing costs in the future

October 2021 Machinery Orders

Non-manufacturing heading towards comeback in wide range of industries; private sector demand achieves growth for first time in three months

Jul-Sep 2021 2nd Preliminary GDP Estimate

Sluggish economic activity due to automobile production cuts and state of emergency reconfirmed

October 2021 Industrial Production

Motor vehicles move toward comeback due to easing of supply constraints, but growth trend is weak

October 2021 Consumer Price Index

Services offset rising energy prices, leaving core CPI in y/y terms unchanged from previous month

September 2021 Machinery Orders

Manufacturing shifts into major growth, but non-manufacturing suffers decline as private sector demand marks time

October 2021 Trade Statistics

Motor vehicle exports show signs of recovery, but growth trend is weak due to semiconductor shortage

Jul-Sep 2021 1st Preliminary GDP Estimate

Negative growth exceeds expectations due to effects of production cuts in motor vehicles and other industries

September 2021 Industrial Production

Cuts in motor vehicle production expand, causing Jul-Sep period production to fall into the negative range

September 2021 Consumer Price Index

Core CPI moves into positive range in y/y terms due to soaring commodity prices

September 2021 Trade Statistics

Motor vehicle exports decline sharply due to supply chain disruption

August 2021 Machinery Orders

Private sector demand declines for first time in two months due to major downturn in manufacturing industry

BOJ September 2021 Tankan Survey

Business conditions DI improve for both large manufacturers and large non-manufacturers

August 2021 Industrial Production

Government revises its economic assessment downwards to “has paused”, due to major cuts in motor vehicle production

August 2021 Consumer Price Index

Downward pressure from services eases up, bringing core CPI to 0.0% y/y

August 2021 Trade Statistics

Export volume declines for second consecutive month due to supply constraints holding down motor vehicle exports

July 2021 Machinery Orders

Private sector demand shifts into growth for first time in two months, but outcomes contrast sharply depending on industry

Apr-Jun 2021 2nd Preliminary GDP Estimate

Results revised upwards to +1.9% q/q annualized, centering on government consumption and capital investment

July 2021 Industrial Production

Motor vehicle production undergoes cuts due to impact on supply chain of spread of COVID-19 in Southeast Asia

July 2021 Consumer Price Index

Core CPI based on 2020 results declines by -0.2% y/y, exceeding market consensus

June 2021 Machinery Orders

Private sector demand declines for first time in four months due to reactionary decline

July 2021 Trade Statistics

Exports to EU achieve major growth, while US & Asia suffer slowdown, resulting in decline in export volume

Apr-Jun 2021 1st Preliminary GDP Estimate

GDP makes soft landing at +1.3% q/q annualized thanks in part to growth in personal consumption exceeding expectations

June 2021 Industrial Production

Production index grows for the first time in two months due to rebound in production of motor vehicles

June 2021 Trade Statistics

Net exports suffer q/q decline in Apr-Jun period despite favorable exports to US

June 2021 Consumer Price Index

Core CPI maintains positive y/y growth for the second consecutive month

May 2021 Machinery Orders

Manufacturing and non-manufacturing boosted by private sector demand, with overall orders recording growth for the third consecutive month

BOJ June 2021 Tankan Survey

Business conditions DI improve for both manufacturing and non-manufacturing, but there is a widening disparity between industries

May 2021 Industrial Production

Production index declines for first time in three months due to major cut in motor vehicle production

May 2021 Consumer Price Index

Core CPI records positive growth on a y/y basis for the first time in a year and two months, due to rising energy prices

May 2021 Trade Statistics

Export volume to China declines, but maintains favorability to US and EU

April 2021 Machinery Orders

Manufacturing records major growth, while non-manufacturing suffers steep decline. Private sector demand grows slightly.

Jan-Mar 2021 2nd Preliminary GDP Estimate

Growth rate hits -3.9% q/q annualized due to upward revision for components such as government consumption and investment demand

April 2021 Industrial Production

Production index grows in a broad range of industries due to increased investment demand overseas and growth in domestic and overseas demand for semiconductors

April 2021 Consumer Price Index

Core CPI declines by -0.1% y/y. Mobile phone communication fees push results down by 0.6%pt

March 2021 Machinery Orders

Private sector demand grows for first time in three months due to large-scale orders in transportation & postal activities

April 2021 Trade Statistics

Exports to China now leading performance, with export value returning to level seen before US-China trade friction began

Jan-Mar 2021 1st Preliminary GDP Estimate

Personal consumption and other components decline due to declaration of emergency at beginning of the year. Apr-Jun period also expected to suffer negative growth

March 2021 Industrial Production

Production index grows for first time in two months due to recovery production in motor vehicles and growth in production oriented toward overseas markets

March 2021 Consumer Price Index

Core CPI decline narrows on a y/y basis – FY2020 results fall first time in four years

March 2021 Trade Statistics

Major growth achieved in comparison to previous month when export value declined due to special factors

February 2021 Machinery Orders

Recovery experiences a lull in both the manufacturing and non-manufacturing industries

BOJ March 2021 Tankan Survey

Improvement in business conditions DI exceeds market expectations for both manufacturing and non-manufacturing industries