Markets Actual Q1/23 Q2/23 Q3/23 Q4/23
Stock Market (points) 27782.93 27280 26441 25631 24843
Currency 132.45 138 141 144 147
Government Bond 10Y (%) 0.32 0.3 0.33 0.35 0.38

Overview Actual Q1/23 Q2/23 Q3/23 Q4/23
GDP Growth Rate (%) 0.00 1.2 0.5 1.2 0.4
GDP Annual Growth Rate (%) 0.40 1.3 0.6 1 1.1
GDP Growth Annualized (%) 0.10 1.1 1 4 3.4
Unemployment Rate (%) 2.40 2.5 2.6 2.6 2.5
Inflation Rate (%) 3.30 4.2 3.9 3.4 2.7
Inflation Rate MoM (%) -0.60 0.5 0.2 0.1 0.4
Interest Rate (%) -0.10 -0.1 -0.1 -0.1 0.1
Balance of Trade (JPY Billion) -897.70 -800 0 -100 -1000
Current Account (JPY Billion) -1976.60 650 1050 1200 1750
Services PMI (points) 54.20 54.2 51 53.1 52.3
Business Confidence (points) 7.00 1 10 8 12
Manufacturing PMI (points) 48.60 48.6 50 51.1 51.3
Consumer Confidence (points) 31.10 35 38 35 39
Current Account to GDP (% of GDP) 1.90 1.5
Government Debt to GDP (% of GDP) 262.50 266
Government Budget (% of GDP) -5.90 -4.5

GDP Actual Q1/23 Q2/23 Q3/23 Q4/23
GDP Growth Rate (%) 0.00 1.2 0.5 1.2 0.4
GDP Annual Growth Rate (%) 0.40 1.3 0.6 1 1.1
GDP Growth Annualized (%) 0.10 1.1 1 4 3.4
GDP Constant Prices (JPY Billion) 546735.10 548888 551364 552074 552749
Gross National Product (JPY Billion) 567409.70 568610 568041 567142 573651
Gross Fixed Capital Formation (JPY Billion) 133913.50 133000 134000 136000 135000
GDP from Agriculture (JPY Billion) 4792.70 4845
GDP from Construction (JPY Billion) 28323.80 28635
GDP from Manufacturing (JPY Billion) 117790.10 119086
GDP from Mining (JPY Billion) 339.00 343
GDP from Public Administration (JPY Billion) 27359.30 27660
GDP from Services (JPY Billion) 19521.80 19737
GDP from Transport (JPY Billion) 25821.10 26105
GDP from Utilities (JPY Billion) 16182.10 16360
GDP (USD Billion) 4940.88 5100
GDP per Capita (USD) 35291.01 35891
GDP per Capita PPP (USD) 40784.38 41478
Full Year GDP Growth (%) 1.00 1.7

Labour Actual Q1/23 Q2/23 Q3/23 Q4/23
Unemployment Rate (%) 2.40 2.5 2.6 2.6 2.5
Employed Persons (Thousand ) 67440.00 67700 67300 67100 67000
Unemployed Persons (Thousand ) 1670.00 1650 1620 1640 1660
Labor Force Participation Rate (%) 62.20 62.5 63.2 63.2 62.6
Youth Unemployment Rate (%) 4.50 4.6 4.7 4.7 4.6
Productivity (points) 100.30 112 98.4 98.3 103
Job Vacancies (Thousand ) 899.87 900 880 870 850
Wages (JPY/Month) 315917.00 335578 572594 319092 711995
Wages in Manufacturing (JPY/Month) 339993.00 357102 581580 342446 826482
Wage Growth (%) 0.80 1.5 1.9 1.6 0.8
Minimum Wages (JPY/Hour) 961.00 986
Population (Million) 125.31 124

Prices Actual Q1/23 Q2/23 Q3/23 Q4/23
Inflation Rate (%) 3.30 4.2 3.9 3.4 2.7
Inflation Rate MoM (%) -0.60 0.5 0.2 0.1 0.4
Consumer Price Index CPI (points) 104.00 105 106 107 107
Core Consumer Prices (points) 103.60 105 106 106 107
Core Inflation Rate (%) 3.10 4.1 3.8 3.2 2.5
GDP Deflator (points) 104.60 105 107 103 107
Producer Prices (points) 119.30 120 120 122 125
Food Inflation (%) 7.50 6.8 5.2 4.5 4
CPI Core Core (%) 3.50 3.1 2.8 2.2 1.4
CPI Housing Utilities (points) 102.10 105 105 105 105
CPI Transportation (points) 94.30 94.77 94.96 95.06 95.44
Producer Prices Change (%) 8.20 7.5 5.3 4.8 4.2

Money Actual Q1/23 Q2/23 Q3/23 Q4/23
Interest Rate (%) -0.10 -0.1 -0.1 -0.1 0.1
Central Bank Balance Sheet (JPY Billion) 739580.00 742000 730000 710000 700000
Loan Growth (%) 3.30 3.2 3.6 3.4 3
Private Debt to GDP (%) 245.80 249

Trade Actual Q1/23 Q2/23 Q3/23 Q4/23
Balance of Trade (JPY Billion) -897.70 -800 0 -100 -1000
Current Account (JPY Billion) -1976.60 650 1050 1200 1750
Imports (JPY Billion) 8552.39 8800 8200 8000 8500
Exports (JPY Billion) 7654.71 8000 8200 7900 7500
Current Account to GDP (% of GDP) 1.90 1.5

Government Actual Q1/23 Q2/23 Q3/23 Q4/23
Government Spending (JPY Billion) 119315.10 119600 120300 120700 121000
Government Debt to GDP (% of GDP) 262.50 266
Government Budget (% of GDP) -5.90 -4.5
Government Spending to GDP (% of GDP) 47.25 45.1

Business Actual Q1/23 Q2/23 Q3/23 Q4/23
Services PMI (points) 54.20 54.2 51 53.1 52.3
Business Confidence (points) 7.00 1 10 8 12
Manufacturing PMI (points) 48.60 48.6 50 51.1 51.3
Industrial Production (%) -3.10 4.2 3.6 3 -2
Manufacturing Production (%) -2.39 3 3.5 -4 2
Capacity Utilization (points) 89.70 93.3 93.5 95 96
Bankruptcies (Companies) 577.00 520 580 600 630
Corporate Profits (JPY Billion) 22376.83 24500 22500 19500 20000
Economy Watchers Survey (points) 52.00 51 54 48 46
Car Production (Units) 588528.00 592000 560000 600000 580000
Car Registrations (Units) 236704.00 290000 170000 210000 170000
Leading Economic Index (points) 96.60 99 101 99 98
Small Business Sentiment (points) -2.00 -3 12 10 8
Composite PMI (points) 51.90 51.9 54 52 50
Non Manufacturing PMI (points) 19.00 19 12 8 6
Reuters Tankan Index (points) -3.00 2 7.5 10 13

Consumer Actual Q1/23 Q2/23 Q3/23 Q4/23
Consumer Confidence (points) 31.10 35 38 35 39
Retail Sales YoY (%) 6.30 2.4 1.2 0.8 0.4
Household Spending (%) -0.30 1.4 -0.2 3 1.1
Consumer Spending (JPY Billion) 295742.70 293777 296457 297704 298996
Disposable Personal Income (JPY Thousand) 404.92 418 740 408 962
Personal Savings (%) 16.10 19 54 18 62
Bank Lending Rate (%) 1.45 1.45 1.45 1.45 1.65
Gasoline Prices (USD/Liter) 1.28 1.39 1.44 1.49 1.54
Consumer Credit (JPY Billion) 487187.00 479987 483137 485810 492546

Housing Actual Q1/23 Q2/23 Q3/23 Q4/23
Housing Starts (Percent) 6.60 1 3.5 3 2.8
Construction Orders (%) -14.00 10 2 -12 2.3
Housing Index (points) 132.33 128 127 125 125