1st of October 2014 - Japanese Economic Data Update

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1st of October 2014 - Japanese Economic Data Update

As we head into the last quarter of 2014 the Japanese economy comes back into focus again as positive data is outweighed by negative results.

The Bank of Japan was happy to announce that business confidence amongst the countries large manufacturers had increased after  a few months of stagnation. The Tanken Index confirmed that business confidence has increased by 1 point to plus-13. This was against forecasters opinions which saw plus-10. It wasn't all good news however as the services sector saw a drop of 6 points to finish the second quarter at plus-13, its lowest since 2011.

The world's 3rd largest economy has seen a run of poor economic data lately as recently Japan's PMI for September was 51.7, a slight drop from Augusts' 52.2 but confirms a fall in Industrial Output, Consumer Spending and Real Wages.

The Japanese economy has suffered since the Sales Tax increase which took place in April. The increase from 5% to 8% saw a significant drop in consumer spending after its implementation and the first quarter results were seen to be inflated as consumers and businesses alike bought their large purchases before the increase was put into place.

With a proposed second Sales Tax increase scheduled for the end of this year many are concerned that the first phase was ineffective at pushing the economy out of the drought it is seeing, a second increase may be very hard to justify. If this is the case and the second increase is postponed or cancelled, it would ultimately appear that the so called "Abenomics" was not as successful as its namesake had hoped it would be.

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