Japan's Economic Indicator 2024

March 2024 Consumer Price Index

Y/y growth in prices continues to slow down gradually

March 2024 Trade Statistics

Trade deficit in FY2023 surpasses 5 tril yen, yet still shrinks significantly below that of previous year

February 2024 Machinery Orders

Both manufacturing and non-manufacturing orders (excluding ships and electric power) achieve growth, but trend remains flat

BOJ March 2024 Tankan Survey

Business conditions DI (actual result) worsen due to production cuts in motor vehicles, while price pass-through progresses for small enterprises

February 2024 Industrial Production

Index suffers downturn due to continued halt of operations at some motor vehicle factories

February 2024 Consumer Price Index

Core CPI growth rate accelerates on a y/y basis due to reduction in energy price decline

February 2024 Trade Statistics

Export value grows for third consecutive month as progress in price pass-through continues

January 2024 Machinery Orders

Private sector demand (excluding ships and electric power) suffers decline for the first time in two months due to major downturn in orders from manufacturing industry

Oct-Dec 2023 2nd Preliminary GDP Estimate

GDP returns to positive growth due to upswing in capex, but only by a small margin

January 2024 Consumer Price Index

CPI y/y growth rate narrows due mainly to the impact of accommodation fees

January 2024 Trade Statistics

Export value on the up side due to shift in dates of Chinese New Year, but content not so good

Oct-Dec 2023 1st Preliminary GDP Estimate

Second consecutive quarter of negative growth brings strong sense of stagnation in domestic demand

December 2023 Trade Statistics

Trade balance made significant improvement in 2023 due to recovery exports of motor vehicles and a lull in the high price of natural resources

December 2023 Consumer Price Index

2023 Core CPI achieves highest growth since 1982 at +3.1% y/y