Japan's October GDP flat despite domestic demand lift: JCER

Dec 13, 2022 | News On Japan

TOKYO - Japan's seasonally adjusted gross domestic product remained flat in October from the previous month with growth in domestic demand offset by negative impacts from external factors, the Japan Center for Economic Research said on Monday.

If GDP growth for the rest of the October and December continues at the same rate, Japan's economy will expand by 2.3% in real terms in the final quarter compare to the July to September period, the think tank said.

According to JCER's estimate, two pillars of domestic demand recorded healthy growth in October. Corporate capital investment was up 1.3% and private consumption increased 0.7% compared to September. The latter was supported by robust 8.0% growth in new car sales.

Private housing investment meanwhile declined 1.5%.

On the external front, goods and services exports in real terms expanded 1.3%, but that fell well short of import growth of 4.1%, resulting in a negative contribution to the GDP calculation for the month. Exports to the U.S. and Europe were up 3.0% and 2.4%, respectively, while those to China fell 6.2%. ...continue reading

Okinawa Braces for Typhoon No. 24

Typhoon No. 24 remained nearly stationary south of Japan on September 2 but is forecast to move north toward Okinawa, bringing the risk of sudden heavy rain and stronger winds from the afternoon while waves are expected to rise steadily as the storm lingers nearby. As of 6 a.m. on September 2, the typhoon was located south of Japan and was expected to approach Okinawa while passing to the east of the main island.

Japan to Conduct First Nationwide Survey of Animal Cafes

Japan's Environment Ministry will conduct its first survey of animal cafes, where customers can interact with animals including exotic species, as concerns grow over infection risks, injuries and the welfare burden placed on animals.

Haneda Tightens Baggage Deadline

Haneda Airport introduced two major changes on September 2, opening a new boarding facility at Terminal 1 while moving the checked-baggage deadline for all domestic flights to 30 minutes before departure.

USJ Eyes First-Ever Park Expansion

Universal Studios Japan is considering its first expansion since opening in 2001, with plans to use about 60,000 square meters of former Nippon Steel factory land adjacent to the park and potentially increase its total area by roughly 10%.

Japan Cuts Speed Limit on Residential Roads to 30 km/h

Japan will lower the statutory speed limit on certain residential roads from 60 kilometers per hour to 30 km/h from September 1, with police in Hyogo Prefecture urging drivers to familiarize themselves with the new rules and drive more carefully in neighborhood areas.

MEDIA CHANNELS

MORE Business NEWS

Nikkei Plunges 1,889 Points as Oil Shock and Bond Rout Hit Tokyo

Tokyo stocks fell sharply on September 2, with the Nikkei 225 closing at 64,325.64, down 1,889.70 points, as renewed U.S. strikes on Iran sent oil prices higher, pushed bond yields up globally and triggered heavy selling across semiconductor, technology and export-related shares.

Japan Retail Bond Rates Hit Record Levels as Yields Rise

Interest rates on Japanese government bonds for individual investors offered in September have risen to record-high levels, with the 10-year floating-rate bond reaching 1.95%, according to figures announced on September 2.

Bessent and Ueda Meet as U.S. Backs Decisive Monetary Policy Measures

U.S. Treasury Secretary Scott Bessent told Bank of Japan Governor Kazuo Ueda that he strongly supports decisive market intervention and monetary policy measures by Japan to address excessive yen weakness, saying the currency's depreciation is contributing to inflationary pressure.

Nikkei Edges Lower as 10-Year Yield Hits 3%

Tokyo stocks ended mixed on September 1, with the Nikkei 225 closing at 66,215.34, down 96.59 points, or 0.15%, as rising bond yields and weakness in semiconductor shares weighed on the index, while the broader TOPIX rose 25.57 points, or 0.62%, to 4,181.86 for its ninth straight gain.

Japan's Long-Term Interest Rate Hits 3%, Highest in 30 Years

Japan's benchmark long-term interest rate reached 3% on September 1, its highest level since 1996, as government bond selling accelerated on expectations of a possible Bank of Japan rate hike, rising U.S. yields and growing concerns over Japan's fiscal outlook.

Honda and Nissan Agree to Jointly Develop Vehicle Operating System

Honda and Nissan Motor have agreed to jointly develop an operating system and onboard computers for next-generation vehicles, aiming to introduce the technology in new models from fiscal 2029 as they seek to compete with U.S. and Chinese automakers.

Japan Marks Showa Centennial With 1,000-Yen Silver Coin

Japan began producing a commemorative 1,000-yen silver coin marking 100 years since the start of the Showa era at the Japan Mint in Osaka on August 31, with a first-striking ceremony held to mark the start of production.

Nikkei Nearly Erases 1,500-Point Drop as TOPIX Extends Winning Streak

Tokyo stocks ended mixed on August 31, with the Nikkei 225 closing at 66,311.93, down 93.63 points, or 0.14%, after briefly plunging more than 1,500 points in early trading, while the broader TOPIX rose 9.58 points, or 0.23%, to 4,156.29 for its eighth straight gain.

< 2 3 4 5 >