Research

Kansai Economic Insight Monthly Vol.74 (June 2019)

Abstract

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.

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