Markets Actual Q3/26 Q4/26 Q1/27 Q2/27
Currency 160.02 159 157 156 155
Stock Market (points) 66367.00 64660 59903 57065 54364
Government Bond 10Y (%) 2.93 2.85 2.77 2.71 2.66

Overview Actual Q3/26 Q4/26 Q1/27 Q2/27
GDP Growth Rate (%) 0.30 0.1 0.4 0.5 0.6
GDP Annual Growth Rate (%) 0.70 0.9 1.1 1.5 1.1
GDP Growth Annualized (%) 1.10 0.6 1.3 2 1.2
Unemployment Rate (%) 2.40 2.6 2.6 2.6 2.4
Inflation Rate (%) 1.90 1.8 2.1 2 1.9
Inflation Rate MoM (%) 0.40 0.2 0.1 0.1 0.2
Interest Rate (%) 1.00 1.25 1.5 1.5 1.5
Balance of Trade (JPY Billion) -634.50 -250 -100 1000 0
Current Account (JPY Billion) -923.00 1500 980 3300 1540
Business Confidence (points) 22.00 23 22 24 23
Services PMI (points) 52.30 52 51 51.5 52
Manufacturing PMI (points) 55.10 54 48.5 48.5 51.9
Consumer Confidence (points) 34.90 36 37 37.5 39
Retail Sales MoM (%) -4.10 0.6 -0.5 0.5 0.4
Current Account to GDP (% of GDP) 4.70 4.5
Government Debt to GDP (% of GDP) 248.70 232
Government Budget (% of GDP) -0.60 -3.7

GDP Actual Q3/26 Q4/26 Q1/27 Q2/27
GDP Growth Rate (%) 0.30 0.1 0.4 0.5 0.6
GDP Annual Growth Rate (%) 0.70 0.9 1.1 1.5 1.1
GDP Growth Annualized (%) 1.10 0.6 1.3 2 1.2
GDP Constant Prices (JPY Billion) 598288.00 597679 600312 605574 604869
Gross National Product (JPY Billion) 622691.70 629842 629975 634861 629541
Gross Fixed Capital Formation (JPY Billion) 107425.00 109336 110964 110321 108607
GDP (USD Billion) 4435.16 4462
GDP per Capita (USD) 38619.34 38851
GDP per Capita PPP (USD) 48283.37 48573
Full Year GDP Growth (%) 1.10 0.6
GDP from Services (JPY Billion) 24487.50 24757
GDP from Public Administration (JPY Billion) 28319.80 28631
GDP from Construction (JPY Billion) 31263.60 31607
GDP from Transport (JPY Billion) 32462.70 32820
GDP from Agriculture (JPY Billion) 5899.90 5965
GDP from Utilities (JPY Billion) 18737.60 18944
GDP from Manufacturing (JPY Billion) 110990.40 112211
GDP from Mining (JPY Billion) 210.10 212

Labour Actual Q3/26 Q4/26 Q1/27 Q2/27
Unemployment Rate (%) 2.40 2.6 2.6 2.6 2.4
Unemployed Persons (Thousand ) 1670.00 1750 1730 1800 1750
Employed Persons (Thousand ) 68310.00 68200 68400 68400 68400
Youth Unemployment Rate (%) 3.40 3.6 3.6 3.6 3.4
Productivity (points) 98.80 106 106 113 98.5
Job Vacancies (Thousand ) 794.00 790 800 810 805
Wages (JPY/Month) 646206.00 348495 787926 370875 671408
Wages in Manufacturing (JPY/Month) 335831.00 380993 963010 339542 348928
Wage Growth (%) 3.40 4 3.8 3.1 3.9
Minimum Wages (JPY/Hour) 1121.00 1177
Population (Million) 123.22 123

Prices Actual Q3/26 Q4/26 Q1/27 Q2/27
Inflation Rate (%) 1.90 1.8 2.1 2 1.9
Inflation Rate MoM (%) 0.40 0.2 0.1 0.1 0.2
Consumer Price Index CPI (points) 102.00 102 103 103 104
Core Inflation Rate (%) 1.80 1.9 2 1.8 2
Core Consumer Prices (points) 102.10 102 103 103 104
GDP Deflator (points) 116.10 113 118 115 118
Producer Prices (points) 135.80 133 133 132 133
Food Inflation (%) 3.50 3.2 3 3 1.8
CPI Housing Utilities (points) 101.00 102 103 103 103
CPI Transportation (points) 102.90 103 103 103 104
CPI Core Core (%) 1.90 2 2.2 2.1 2
Producer Prices Change (%) 7.20 5 3.8 2 -1.8

Money Actual Q3/26 Q4/26 Q1/27 Q2/27
Interest Rate (%) 1.00 1.25 1.5 1.5 1.5
Loan Growth (%) 5.40 5.4 5.3 5.3 5
Private Debt to GDP (%) 162.60 163

Trade Actual Q3/26 Q4/26 Q1/27 Q2/27
Balance of Trade (JPY Billion) -634.50 -250 -100 1000 0
Current Account (JPY Billion) -923.00 1500 980 3300 1540
Exports (JPY Billion) 11511.80 9350 9800 10000 9500
Imports (JPY Billion) 12146.30 9600 9900 9000 9500
Tourist Arrivals 3442100.00 3150000 3504000 3700000 3400000
Current Account to GDP (% of GDP) 4.70 4.5

Business Actual Q3/26 Q4/26 Q1/27 Q2/27
Business Confidence (points) 22.00 23 22 24 23
Services PMI (points) 52.30 52 51 51.5 52
Manufacturing PMI (points) 55.10 54 48.5 48.5 51.9
Industrial Production (%) 4.90 1 1.2 0.6 -1.2
Manufacturing Production (%) 4.10 1 1.5 0.5 -1.4
Capacity Utilization (points) 107.20 107 106 108 107
Bankruptcies (Companies) 1028.00 821 850 840 800
Corporate Profits (JPY Billion) 32627.09 25000 28500 28500 33000
Economy Watchers Survey (points) 45.70 46 48 47 49
Car Production (Units) 540331.00 690000 645000 665000 690000
Car Registrations (Units) 242578.00 245000 180000 180000 220000
Leading Economic Index (Points) 116.50 112 115 116 119
Small Business Sentiment (points) 9.00 10 8 9 11
Tankan Large Manufacturing Outlook (points) 17.00 18 16 18 19
Reuters Tankan Index (points) 18.00 15 15 16 18
Non Manufacturing PMI (points) 37.00 35 37 39 36
Composite PMI (points) 53.40 52.7 51.1 52 50.5

Consumer Actual Q3/26 Q4/26 Q1/27 Q2/27
Consumer Confidence (points) 34.90 36 37 37.5 39
Retail Sales MoM (%) -4.10 0.6 -0.5 0.5 0.4
Retail Sales YoY (%) 0.50 5.8 4.6 1.6 1.9
Household Spending (%) -3.30 0.1 1.4 1.4 1.7
Consumer Spending (JPY Billion) 310694.40 311701 312669 315413 314112
Disposable Personal Income (JPY Thousand) 810.64 418 1022 460 820
Personal Savings (%) -5.90 0.5 4 -6.5 0.5
Bank Lending Rate (%) 3.15 3.4 3.65 3.65 3.65
Consumer Credit (JPY Billion) 62267.10 59616 61380 63201 62952
Gasoline Prices (USD/Liter) 1.07 1.21 1.15 1.1 1.01

Housing Actual Q3/26 Q4/26 Q1/27 Q2/27
Housing Starts (Units) 66344.00 67066 68330 64130 70988
Construction Orders (%) 2.30 -3 5 23 10
Housing Starts YoY (Percent) 18.60 5.5 10 1 7

Government Actual Q3/26 Q4/26 Q1/27 Q2/27
Government Debt to GDP (% of GDP) 248.70 232
Government Budget (% of GDP) -0.60 -3.7
Government Spending to GDP (% of GDP) 39.05 43