Markets Actual Q1/26 Q2/26 Q3/26 Q4/26
Stock Market (points) 57735.00 53000 50000 47998 46078
Currency 155.11 156 155 153 152
Government Bond 10Y (%) 2.26 2.2 2.1 2.04 1.98

Overview Actual Q1/26 Q2/26 Q3/26 Q4/26
GDP Growth Rate (%) -0.60 0.4 0.3 0.1 0.4
GDP Annual Growth Rate (%) 1.10 0.6 0.5 0.8 0.7
GDP Growth Annualized (%) -2.30 1.8 1.4 1.5 2
Unemployment Rate (%) 2.60 2.7 2.7 2.6 2.6
Inflation Rate (%) 2.10 2 2.2 2.3 2.1
Inflation Rate MoM (%) -0.10 0.3 0.2 0.2 0.1
Interest Rate (%) 0.75 0.75 0.75 1 1
Balance of Trade (JPY Billion) 105.69 470 700 150 -500
Current Account (JPY Billion) 7288.00 3100 1430 1500 980
Services PMI (points) 53.70 51.5 51.3 50.8 51
Business Confidence (points) 15.00 14 13 12 15
Manufacturing PMI (points) 51.50 51 50.8 50 51.5
Consumer Confidence (points) 37.90 37.3 37 36.9 37
Retail Sales MoM (%) -2.00 -0.8 -0.8 0.6 -0.5
Current Account to GDP (% of GDP) 4.70 3.5
Government Debt to GDP (% of GDP) 236.70 228
Government Budget (% of GDP) -2.30 -3.7

GDP Actual Q1/26 Q2/26 Q3/26 Q4/26
GDP Growth Rate (%) -0.60 0.4 0.3 0.1 0.4
GDP Annual Growth Rate (%) 1.10 0.6 0.5 0.8 0.7
GDP Growth Annualized (%) -2.30 1.8 1.4 1.5 2
GDP Constant Prices (JPY Billion) 561765.30 564457 567083 566259 565698
Gross National Product (JPY Billion) 596734.80 593375 596805 601509 600912
Gross Fixed Capital Formation (JPY Billion) 154609.20 157000 158000 156000 156000
GDP (USD Billion) 4026.21 5390
GDP per Capita (USD) 37144.91 37405
GDP per Capita PPP (USD) 46097.43 46420
Full Year GDP Growth (%) 0.10 0.7
GDP from Agriculture (JPY Billion) 5899.90 5941
GDP from Construction (JPY Billion) 31263.60 31482
GDP from Manufacturing (JPY Billion) 110990.40 111767
GDP from Mining (JPY Billion) 210.10 212
GDP from Public Administration (JPY Billion) 28319.80 28518
GDP from Services (JPY Billion) 24487.50 24659
GDP from Transport (JPY Billion) 32462.70 32690
GDP from Utilities (JPY Billion) 18737.60 18869

Labour Actual Q1/26 Q2/26 Q3/26 Q4/26
Unemployment Rate (%) 2.60 2.7 2.7 2.6 2.6
Employed Persons (Thousand ) 68460.00 68200 68000 68500 68600
Unemployed Persons (Thousand ) 1860.00 1700 1720 1750 1730
Youth Unemployment Rate (%) 2.40 2.5 2.5 2.4 2.4
Productivity (points) 98.40 113 108 110 115
Job Vacancies (Thousand ) 807.89 810 800 830 845
Wages (JPY/Month) 347424.00 354552 636552 340117 353678
Wages in Manufacturing (JPY/Month) 362412.00 383417 681338 371834 368935
Wage Growth (%) 2.40 2.1 1.8 1.5 1.8
Minimum Wages (JPY/Hour) 1064.00 1130
Population (Million) 123.80 123

Prices Actual Q1/26 Q2/26 Q3/26 Q4/26
Inflation Rate (%) 2.10 2 2.2 2.3 2.1
Inflation Rate MoM (%) -0.10 0.3 0.2 0.2 0.1
Consumer Price Index CPI (points) 113.00 113 114 115 115
Core Consumer Prices (points) 112.20 113 114 114 115
Core Inflation Rate (%) 2.40 2.4 2.3 2.1 2.3
GDP Deflator (points) 111.00 111 116 114 113
Producer Prices (points) 128.10 129 129 129 130
Food Inflation (%) 5.10 3.6 3 2.5 2.2
CPI Transportation (points) 100.00 100 100 101 101
CPI Housing Utilities (points) 104.50 106 106 107 107
CPI Core Core (%) 2.90 2.7 2.5 2.3 2.1
Producer Prices Change (%) 2.40 2 1.9 1.9 1.8

Money Actual Q1/26 Q2/26 Q3/26 Q4/26
Interest Rate (%) 0.75 0.75 0.75 1 1
Loan Growth (%) 4.50 4.5 4.7 3.4 3.5
Private Debt to GDP (%) 169.90 169

Trade Actual Q1/26 Q2/26 Q3/26 Q4/26
Balance of Trade (JPY Billion) 105.69 470 700 150 -500
Current Account (JPY Billion) 7288.00 3100 1430 1500 980
Imports (JPY Billion) 10305.81 9500 9300 9200 11000
Exports (JPY Billion) 10411.51 9970 10000 9350 10500
Tourist Arrivals 3634000.00 3300000 3000000 2900000 2900000
Current Account to GDP (% of GDP) 4.70 3.5

Business Actual Q1/26 Q2/26 Q3/26 Q4/26
Services PMI (points) 53.70 51.5 51.3 50.8 51
Business Confidence (points) 15.00 14 13 12 15
Manufacturing PMI (points) 51.50 51 50.8 50 51.5
Industrial Production (%) 2.60 3.3 2 1 1
Manufacturing Production (%) 2.60 2 1.6 1.3 1.3
Capacity Utilization (points) 100.00 106 107 108 110
Bankruptcies (Companies) 928.00 860 840 821 720
Corporate Profits (JPY Billion) 27538.53 28000 34500 25000 29500
Economy Watchers Survey (points) 47.60 50.4 51.3 51 52
Car Production (Units) 587348.00 625000 700000 690000 645000
Car Registrations (Units) 200047.00 270000 230000 200000 280000
Leading Economic Index (Points) 110.20 115 117 114 120
Small Business Sentiment (points) 6.00 1 -1 -3 1
Tankan Large Manufacturing Outlook (points) 15.00 14 13 14 13
Composite PMI (points) 53.10 51.3 50.8 51 51.1
Non Manufacturing PMI (points) 34.00 39 40 42 45
Reuters Tankan Index (points) 7.00 7 4 8 11

Consumer Actual Q1/26 Q2/26 Q3/26 Q4/26
Consumer Confidence (points) 37.90 37.3 37 36.9 37
Retail Sales MoM (%) -2.00 -0.8 -0.8 0.6 -0.5
Retail Sales YoY (%) -0.90 2.1 2.3 1.8 1.6
Household Spending (%) -2.60 1.3 2 1.5 1.4
Consumer Spending (JPY Billion) 308605.90 309041 309532 311075 310766
Disposable Personal Income (JPY Thousand) 425.50 429 780 417 428
Personal Savings (%) 0.40 7.4 4 2 9
Bank Lending Rate (%) 2.60 2.6 2.6 2.85 2.85
Gasoline Prices (USD/Liter) 1.02 1.04 1.07 1.1 1.13
Consumer Credit (JPY Billion) 57202.60 56351 56735 57660 57603

Housing Actual Q1/26 Q2/26 Q3/26 Q4/26
Housing Starts (Units) 59524.00 93904 53158 63252 60119
Construction Orders (%) 20.20 -4 2 3 5
Housing Starts YoY (Percent) -1.30 5 -5 -0.5 1

Government Actual Q1/26 Q2/26 Q3/26 Q4/26
Government Debt to GDP (% of GDP) 236.70 228
Government Budget (% of GDP) -2.30 -3.7
Government Spending to GDP (% of GDP) 39.40 43