Japan May all industry activity index -3.5% vs -3.5% m/m expected

Latest data released by METI – 27 July 2020

  • Prior -6.4%; revised to -7.6%

Slight delay in the release by the source. The data is often referred to as the monthly GDP reading, it’s a tracker production across all sectors of the Japanese economy and follows the GDP growth figures/trend.
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In May, most parts of Japan were still observing state of emergency measures so economic activity had taken a knock – though less than what was seen in April at least.

The current virus situation in Japan is worth keeping an eye on in case it forces the government’s hands to try and warn about business restrictions again. That may see the economy take another hit, or virus fears will do that eventually on its own.

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