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?

Monday, December 10, 2007

Japan Economy Watchers Index November 2007

Well, even while machinery manufacturers ride on the back of strong export demand, the internal situation in Japan continues to deteriorate. The latest indication of this is the November edition of the Economy Watchers Index. This survey of barbers, shopkeepers and others who deal with consumers, fell for an eighth month to 38.8 from 41.5 in October, the Cabinet Office said today in Tokyo (Japanese only at present). A number less than 50 means pessimists outnumber optimists.

And we haven't seen the bottom of this yet, since merchants expect conditions to deteriorate in the next two to three months. The outlook index fell to 38.8, the lowest since March 2003, from 43.1 in October, and the Cabinet Office downgraded its assessment for the index for a second month, saying that sentiment is "very weak" having described it simply as "weak" in October.

And confidence at small businesses, which employ more than half of the Japan's workforce, is deteriorating according to an index of sentiment published by the Shoko Chukin Bank. This survey is carried out among small and midsized companies, and fell to 46.9 in November, the eighth straight month pessimists outnumbered optimists.