Research

Kansai Economic Insight Monthly Vol.75 (July 2019)

Abstract

Summary: Further economic deterioration in sight

・ Production in May expanded MoM for the second month in a row.
・ Although Kansai registered a trade surplus for the first time in two months in June, both exports and imports shrank YoY.
・ The Economy Watchers’ Diffusion Index (DI)  in June deteriorated MoM for the second consecutive month.
・ Both nominal and real wages in April decreased YoY for the second consecutive month.
・ Sales by large retailers in May expanded YoY for the first time in two months.
・ The number of new housing starts in May plummeted sharply (-27.5% YoY), decreasing for the second consecutive month.
・ Although the effective job offers-to-applicants ratio in May declined slightly, the absolute numbers of both job offers and applicants increased. The unemployment rate remained unchanged.
・ Construction works in May expanded YoY for the 15th month in a row. However, public works contracts declined.
・ The number of international arrivals at Kansai International Airport in June grew YoY for the ninth month in a row.
・ China’s Q2 real GDP expanded +6.2% YoY, the slowest growth rate since 1992.

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