Japan Real Time Charts and Data

Edward Hugh is only able to update this blog from time to time, but he does run a lively Twitter account with plenty of Japan related comment. He also maintains a collection of constantly updated Japan data charts with short updates on a Storify dedicated page Is Japan Once More Back in Deflation?

Tuesday, July 08, 2008

The Japan Economy Watchers Index Falls Again In June

by Edward Hugh: Barcelona

The Economy Watchers index - a survey of barbers, taxi drivers and others who serve the general public directly was down again in June, falling to 29.5 (a six year low)from 32.1 in May, according to data from the Cabinet Office today. The forward looking index for conditions in two to three months time slid to 32.1, its worst reading since September 2001 (down from 35.1. in May).

Obviously the combination of rising food and energy prices and pressure on wages is now hitting people. A record 88.9 percent of those interviews expected prices to rise over the next 12 months according to last week's Bank of Japan survey, while an unprecedented 58.7 percent said they were going to cut spending. Again this is not particularly surprising since the latest data show that wages only were up 0.2 percent year on year in May, while the prices of the most frequently purchased products grew 2.4 percent.