Front Page

  • 2019-04-09 09:00

    --IMF WEO Keeps Japan 2020 GDP Forecast At 0.5%
    --IMF: Sustained monetary accommodation necessary

    TOKYO (MNI) - The International Monetary Fund has lowered its forecast for Japanese economic growth in 2019 to 1.0% from 1.1% in January, but kept its 2020 GDP forecast at 0.5%, the latest IMF's World Economic Outlook showed Tuesday morning in Washington.

    But the projected 1.0% growth in 2019 was higher than +0.9% made in October.

    The WEO said, "Japan's economy is set to grow by 1.0% in 2019 (0.1 percentage point higher than in the October WEO).

  • 2019-04-08 23:11

    TOKYO (MNI) - Japan has decided to overhaul banknotes, including the Y1000, Y5000 and Y10,000 issues, the Bank of Japan said Tuesday.

    The BOJ and the government have been considering the timing of overhauling the banknotes, with the announcement corresponding to the start of the new "Reiwa" era on May 1.

    Distribution of the new banknotes, which will include anti-counterfeiting features, will likely begin in a few years.

    The Imperial era will change from Heisei to Reiwa on May 1, when Crown Prince Naruhito ascends to the throne as emperor.

    The 1,000 yen note will depict Shibasaburo Kitasato, the father of modern medicine in Japan who discovered the bacterium responsible for the bubonic plague.

    On the 5,000 yen note will be Tsuda University founder Umeko T

  • 2019-04-08 19:01

    By Shaily Mittal

    LONDON (MNI) - UK Retail Sales fell 0.5% in March compared with a gain of 2.3% in March last year.

  • 2019-04-08 10:12

    --Factory Inventories Rise 0.3%
    --Orders Down On Transportation, Machinery, Computers And Electronics

    WASHINGTON (MNI) - The value of new factory orders fell 0.5% in February, just above the 0.6% decrease expected by analysts in an MNI survey as expected by the Bloomberg consensus, data released by the Commerce Department Monday morning showed.

    Durable goods orders were unrevised from the 1.6% decline in the advanced estimate. Nondurable goods orders rose 0.6% on increases in petroleum and coal products and food products, partially offset by beverages and apparel. Nondurable goods new orders are equivalent to nondurable goods shipments in this report.

  • 2019-04-08 08:30

    By Yali N'Diaye

    OTTAWA (MNI) - The following are the key points from the February data on Canadian building permits released Monday by Statistics Canada:

    - The value of building permits issued by Canadian municipalities dropped a further 5.7% in February, following a 6.0% decrease in January. The value reached C$7.8 billion, the lowest level since April 2017.

    - The decrease was led by an 8.5% drop in the residential sector, the largest decline since December 2016. Weakness was concentrated in multi-family dwellings, where construction intentions fell 16.4%, the largest contraction since June 2016. Lower intentions in Ontario and British Columbia were largely to blame.

    - Permits for single-family dwellings rose 4.0% in February, the same as in January.

  • 2019-04-08 01:52

    --Japan March Consumer Confidence Index 40.5 Vs 41.5 Feb
    --Japan Govt Keeps View: Consumer Confidence Weakening

    TOKYO (MNI) - Japan's consumer confidence index fell a point to a seasonally adjusted 40.5 in March, the sixth straight monthly drop, according to the Consumer Confidence Survey released by the Cabinet Office Monday.

    The drop in the index, which came after a 0.3 point fall to 41.5 in February, was mainly caused by weaker prospects for overall economic well-being and employment condition.

    --The Cabinet Office left its assessment, saying consumer confidence was "weakening." The government in February lowered the assessment from January when it said that consumer confidence "showed weak moves."

    --Consumers were more pessimistic on the all four key aspects fo

  • 2019-04-07 20:33

    TOKYO (MNI) - Bank of Japan Governor Haruhiko Kuroda Monday maintained his optimistic economic growth and inflation outlook for Japan.

    Kuroda's remarks, coming at the opening of the BOJ branch managers' meeting in Tokyo, indicated that the central bank's overall assessment hasn't changed from March's policy meeting after the BOJ downgraded its assessment of exports, industrial production and the global economy.

    The key points of Kuroda's remarks:

    --Japan's economy is expanding moderately, with a virtuous cycle from income to spending operating, although exports and production have been affected by the slowdown in overseas economies.

  • 2019-04-05 08:33

    By Yali N'Diaye

    OTTAWA (MNI) - The following are the key points from the March data on the Canadian Labor Force Survey released Friday by Statistics Canada:

    - The Canadian economy shed a net 7,200 jobs in March, while the market consensus was at +10,000 and MNI consensus was flat. This was the largest monthly decline since August 2018. The private sector lost 17,300 jobs, the largest drop since January 2018, while the public sector added 4,200 positions.

    - However, the unemployment rate remained stable at 5.8%, as expected, with the participation rate edging down to 65.7% from 65.8%.

    - The overall picture remains favorable, as the monthly decline came on the back of a cumulative gain of 122,700 jobs in February and January.

  • 2019-04-05 00:53

    --BOJ March Consumer Sentiment Diffusion Index Down 4.9 To -19.2

    TOKYO (MNI) - The Bank of Japan's quarterly consumer survey saw sentiment fall from three months ago, as judged by income and business conditions.

    These are the key points from the survey, released Friday:

    --The BOJ's consumer sentiment diffusion index for the current climate fell 4.9 points to -19.2 in March, extending December's 1 point decline -14.3. It was the third straight quarterly drop.

  • 2019-04-04 20:07

    --Japan Feb Average Wages -0.8% Y/Y, 2nd Straight Drop; Jan -0.6%
    --Japan Feb Real Average Wages -1.1% Y/Y; Jan -0.7%
    --Japan Feb Base Wages -0.1% Y/Y, 2nd Straight Drop
    --Japan Feb Overtime Pay -0.5% Y/Y, 3rd Straight Drop
    --Japan Feb Bonuses, Other Special Pay -34.2% Y/Y, Jan -1.4%

    TOKYO (MNI) - Average wages fell 0.8% on year in February, the second straight year-on-year drop following a 0.6% decline in January and real wages were also in negative territory, preliminary data released Friday by the Ministry of Health, Labour and Welfare showed.

    The key points from the Monthly Labour Survey:

    --Total monthly average cash earnings per regular employee in Japan fell 0.8% on year to Y264,435 in February, the second straight year-on-year drop following a 0.6% fall in Janu