March 8, 2019

Japan Economy Watchers Survey

A respite in February after a slew of bad data for January?

Published monthly by the Cabinet Office. Updated until February 2019 (published on March 8th, 2019)

Recent data trend

Economy Watchers indices for February 2019 was a relief for those who fear Japan may be rapidly plummeting into a recession. The current diffusion index (DI) improved to 47.5 in February, more than compensating for the loss it suffered in January. The Future DI did deteriorate in February, but the speed of the deterioration was relatively small. The Japanese economy most likely suffered a severe contraction in January, but the pace of deterioration seems to have at least eased in February. By...

To read more, please become a our Standard / Corporate subscriber.

Start a subscription with 30-days Free Trial

If you are already a JMA subscriber please

Brief Overview of "Economy Watchers Survey"

"Economy watchers survey" is a survey of people who are working in industries that are sensitive to economic trends, such as household activity, corporate activity, and employment. This index is a diffusion index (DI). The index over 50 indicates that the economy is expanding, while the index below 50 indicates that the economy is contracting. 

DI for current conditions indicate the direction of change compared to 3 months ago, and DI for future condition index indicates the expected direction of change within the next 2 or 3 months.

For more information, visit the official government page

Source: Cabinet Office, JMA

The Next Release Date: April 8th, 2019

Suggested Pages

Consumer Confidence Index

Consumer sentiments in Japan been deteriorating over the past year. The overall index peaked as long ago as in January 2018 at 44.7 and it has since deteriorated to 41.5 by February 2019. The pace of

View Page

Tankan

The December BoJ Tankan result showed a broad-based improvement in the business sentiment in Japan. The large manufacturers'' business condition DI improved markedly from 22 in September, to 25 in Dec

View Page

Wage and Hours Worked

The April wage report was consistent with our view that wages in Japan are finally on the rise. The preliminary estimate for the month showed that regular wages in Japan rose by 1.2% year on year (Yo

View Page

Bank lending

Japan''s bank credit is showing a steady expansion at around 2.3% year on year. Regional banks are more active in their credit provision, growing their loan books at 3.2% year on year (YoY) in Februar

View Page