Markets Actual Q4/26 Q1/27 Q2/27 Q3/27
Currency 157.97 157 156 154 154
Stock Market (points) 61390.00 61205 57290 54505 51854
Government Bond 10Y (%) 2.80 2.73 2.66 2.61 2.56

Overview Actual Q4/26 Q1/27 Q2/27 Q3/27
GDP Growth Rate (%) 0.40 0.4 0.5 0.6 0.2
GDP Growth Annualized (%) 1.40 1.3 2 1.2 0.8
GDP Annual Growth Rate (%) 0.70 1.1 1.5 1.1 0.7
Unemployment Rate (%) 2.40 2.6 2.6 2.4 2.3
Inflation Rate (%) 2.10 2.1 1.8 1.9 1.8
Inflation Rate MoM (%) 0.00 0.1 0.1 0.2 0.2
Interest Rate (%) 1.25 1.5 1.5 1.5 1.75
Balance of Trade (JPY Billion) -536.60 -100 1000 0 -260
Current Account (JPY Billion) 4062.00 980 3300 1540 1980
Business Confidence (points) 24.00 22 24 23 20
Services PMI (points) 52.00 51 51.5 52 51.2
Manufacturing PMI (points) 53.30 53 53.5 51.9 51
Consumer Confidence (points) 35.00 37 37.5 39 40
Retail Sales MoM (%) -0.70 -0.5 0.5 0.4 1
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 Q4/26 Q1/27 Q2/27 Q3/27
GDP Growth Rate (%) 0.40 0.4 0.5 0.6 0.2
GDP Growth Annualized (%) 1.40 1.3 2 1.2 0.8
GDP Annual Growth Rate (%) 0.70 1.1 1.5 1.1 0.7
GDP Constant Prices (JPY Billion) 598950.50 600493 605751 605539 603143
Gross National Product (JPY Billion) 623308.00 630152 635032 630164 627671
Gross Fixed Capital Formation (JPY Billion) 107633.80 110958 110283 108818 108387
GDP (USD Billion) 4435.16 4471
GDP per Capita (USD) 38619.34 38928
GDP per Capita PPP (USD) 48283.37 48670
Full Year GDP Growth (%) 1.10 0.8
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 Utilities (JPY Billion) 18737.60 18944
GDP from Manufacturing (JPY Billion) 110990.40 112211
GDP from Agriculture (JPY Billion) 5899.90 5965
GDP from Mining (JPY Billion) 210.10 212

Labour Actual Q4/26 Q1/27 Q2/27 Q3/27
Unemployment Rate (%) 2.40 2.6 2.6 2.4 2.3
Unemployed Persons (Thousand ) 1670.00 1730 1800 1750 1725
Employed Persons (Thousand ) 68680.00 68400 68400 68400 68800
Youth Unemployment Rate (%) 3.50 3.7 3.7 3.5 3.4
Productivity (points) 96.90 106 113 98.5 106
Job Vacancies (Thousand ) 799.00 800 810 805 820
Wages (JPY/Month) 344966.00 787926 370875 671408 355315
Wages in Manufacturing (JPY/Month) 334890.00 963010 339542 348928 344937
Wage Growth (%) 3.80 3.8 3.1 3.9 3
Minimum Wages (JPY/Hour) 1177.00 1177
Population (Million) 123.22 123

Prices Actual Q4/26 Q1/27 Q2/27 Q3/27
Inflation Rate (%) 2.10 2.1 1.8 1.9 1.8
Inflation Rate MoM (%) 0.00 0.1 0.1 0.2 0.2
Consumer Price Index CPI (points) 102.20 103 102 104 104
Core Inflation Rate (%) 2.10 2 1.8 2 1.9
Core Consumer Prices (points) 102.30 103 103 104 104
GDP Deflator (points) 116.20 118 115 118 118
Producer Prices (points) 135.70 138 133 133 137
Food Inflation (%) 2.80 3 3 1.8 2
Services Producer Price Index YoY (%) 3.70 4 4.1 3.8 3.2
CPI Core Core (%) 2.40 2.2 2.2 2 1.9
Producer Prices Change (%) 6.80 7.8 2 -1.8 0.6
CPI Housing Utilities (points) 101.30 103 102 103 103
CPI Transportation (points) 103.00 103 103 103 104

Money Actual Q4/26 Q1/27 Q2/27 Q3/27
Interest Rate (%) 1.25 1.5 1.5 1.5 1.75
Loan Growth (%) 5.30 5.3 5.3 5 5.6
Private Debt to GDP (%) 162.60 163

Trade Actual Q4/26 Q1/27 Q2/27 Q3/27
Balance of Trade (JPY Billion) -536.60 -100 1000 0 -260
Current Account (JPY Billion) 4062.00 980 3300 1540 1980
Exports (JPY Billion) 10972.25 9800 10000 9500 9490
Imports (JPY Billion) 11508.81 9900 9000 9500 9750
Tourist Arrivals 3103700.00 3504000 3700000 3400000 3280000
Current Account to GDP (% of GDP) 4.70 4.5

Business Actual Q4/26 Q1/27 Q2/27 Q3/27
Business Confidence (points) 24.00 22 24 23 20
Services PMI (points) 52.00 51 51.5 52 51.2
Manufacturing PMI (points) 53.30 53 53.5 51.9 51
Industrial Production (%) 1.90 1.2 0.6 -1.2 2
Manufacturing Production (%) 1.90 1.5 0.5 -1.4 1.3
Capacity Utilization (points) 103.20 106 108 107 107
Bankruptcies (Companies) 831.00 850 840 800 817
Corporate Profits (JPY Billion) 44666.75 28500 28500 33000 27000
Economy Watchers Survey (points) 47.00 48 47 49 48
Car Registrations (Units) 216757.00 180000 180000 220000 250000
Car Production (Units) 686871.00 645000 665000 690000 695000
Leading Economic Index (Points) 118.00 115 116 119 118
Small Business Sentiment (points) 14.00 8 9 11 10
Tankan Large Manufacturing Outlook (points) 21.00 16 18 19 17
Composite PMI (points) 52.30 53.1 52 50.5 50.3
Non Manufacturing PMI (points) 35.00 37 39 36 38
Reuters Tankan Index (points) 22.00 15 16 18 17

Consumer Actual Q4/26 Q1/27 Q2/27 Q3/27
Consumer Confidence (points) 35.00 37 37.5 39 40
Retail Sales MoM (%) -0.70 -0.5 0.5 0.4 1
Retail Sales YoY (%) 2.30 4.6 4.6 1.9 2
Household Spending (%) -3.10 1.4 1.4 1.7 2
Consumer Spending (JPY Billion) 310766.30 312760 315404 314185 312942
Disposable Personal Income (JPY Thousand) 513.62 1022 460 820 517
Personal Savings (%) 1.80 4 -6.5 0.5 2
Bank Lending Rate (%) 3.70 3.95 3.95 3.95 4.2
Consumer Credit (JPY Billion) 649320.00 61380 630887 656463 653865
Gasoline Prices (USD/Liter) 1.08 1.11 1.18 1.23 1.28

Housing Actual Q4/26 Q1/27 Q2/27 Q3/27
Housing Starts (Units) 63974.00 68330 69845 70988 60775
Construction Orders (%) -11.10 5 23 10 4
Housing Starts YoY (Percent) -2.70 10 10 7 -5

Government Actual Q4/26 Q1/27 Q2/27 Q3/27
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