Kansai Economic Insight Monthly Vol.74 (June 2019)
Summary: Current economic deterioration expected to persist
- Production in April expanded MoM for the first time in six months, but output was -0.5% lower than the Q1 average.
- Kansai registered a trade deficit in May for the first time in four months. Both exports and imports shrank YoY.
- The Economy Watchers’ Diffusion Index (DI) in May deteriorated MoM for the first time in two months.
- Both nominal and real wages in March decreased YoY for the first time in three months.
- Sales by large retailers in April shrank YoY for the first time in two months.
- The number of new housing starts in April decreased YoY for the first time in two months.
- The job offers-to-applicants ratio in April increased slightly. The unemployment rate remained unchanged.
- Construction works in April expanded for the 14th consecutive month.
- The number of international arrivals at Kansai International Airport in May grew YoY for the eighth month in a row.
- China’s Purchasing Managers’ Index (PMI) in May deteriorated for the second consecutive month.