Japan | Economic Forecasts | 2016-2020 Outlook

Overview Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
GDP Growth Rate 0.30 0.3 0.3 0.25 0.5 0.5 percent [+]
Unemployment Rate 3.10 3.1 3 3.2 3.3 3.8 percent [+]
Inflation Rate 0.50 0.7 0.9 1 1.1 2 percent [+]
Interest Rate -0.10 -0.1 -0.1 -0.1 -0.1 0.1 percent [+]
Balance of Trade 153.00 497 479 250 300 410 JPY Billion [+]
Government Debt to GDP 229.20 230 231 233 234 243 percent [+]
MARKETS Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Currency 113.26 120 121 122 123 141 [+]
Stock Market 18899.98 19000 18800 18600 18400 15500 points [+]
Government Bond 10Y 0.05 0.06 0.06 0.06 0.9 0.07 percent [+]
GDP Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
GDP Growth Rate 0.30 0.3 0.3 0.25 0.5 0.5 percent [+]
GDP Annual Growth Rate 1.10 1.1 1.2 1.3 1.1 1.7 percent [+]
GDP Growth Annualized 1.30 1.6 1 1.5 0.5 2.9 percent [+]
GDP 4123.26 4510 4510 4510 4510 5150 USD Billion [+]
GDP Constant Prices 522963.40 527000 527000 526000 526000 527000 JPY Billion [+]
Gross National Product 544398.90 549342 550875 552575 554372 576824 JPY Billion [+]
Gross Fixed Capital Formation 122063.80 122731 122140 122260 122176 109000 JPY Billion [+]
GDP per capita 44656.80 45100 45100 45100 45100 46200 USD [+]
GDP per capita PPP 35804.23 36000 36000 36000 36000 37000 USD [+]
GDP From Agriculture 6277.20 6252 6226 6201 6175 5654 JPY Billion [+]
GDP From Construction 28205.10 27988 28217 28445 28674 31700 JPY Billion [+]
GDP From Manufacturing 111231.70 110709 110510 110312 110113 113000 JPY Billion [+]
GDP From Mining 193.80 178 193 208 223 216 JPY Billion [+]
GDP From Public Administration 30779.50 30827 30815 30803 30791 30566 JPY Billion [+]
GDP From Services 95137.40 96133 95605 95077 94549 97135 JPY Billion [+]
GDP From Transport 24319.00 23660 23653 23646 23640 23480 JPY Billion [+]
GDP From Utilities 7612.40 6939 7067 7196 7324 9865 JPY Billion [+]
LABOUR Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Unemployment Rate 3.10 3.1 3 3.2 3.3 3.8 percent [+]
Employed Persons 64440.00 64438 64430 64436 64431 64433 Thousand [+]
Unemployed Persons 2050.00 2031 2019 2028 2021 2024 Thousand [+]
Part Time Employment 6969.00 7142 7184 7226 7268 7771 Thousand [+]
Full Time Employment 20974.00 20839 20843 20842 20842 20842 Thousand [+]
Employment Rate 58.20 57.8 58.13 58.03 57.96 58.01 percent [+]
Labor Force Participation Rate 60.00 59.95 59.95 59.95 59.95 59.95 percent [+]
Long Term Unemployment Rate 1.30 1.31 1.3 1.29 1.28 1.72 percent [+]
Youth Unemployment Rate 4.30 5.21 5.2 5.2 5.2 5.2 percent [+]
Productivity 98.80 103 99.02 103 99.04 99.04 Index Points [+]
Job Vacancies 921.20 921 921 921 921 921 Thousand [+]
Job Advertisements 399.15 426 413 415 416 416 Thousand [+]
Wages 310.04 310 539 308 672 701 JPY Thousand/Month [+]
Wages in Manufacturing 348.75 350 556 332 808 822 JPY Thousand/Month [+]
Wage Growth 0.20 0.18 0.2 0.2 0.2 0.2 percent [+]
Minimum Wages 823.00 823 823 823 823 900 JPY/Hour [+]
Population 126.82 127 127 127 127 126 Million [+]
Retirement Age Women 62.00 62 62 62 62 63 [+]
Retirement Age Men 62.00 62 62 62 62 63 [+]
PRICES Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Inflation Rate 0.50 0.7 0.9 1 1.1 2 percent [+]
Inflation Rate Mom 0.00 0.2 0.2 0.1 0.1 0.2 percent [+]
Consumer Price Index CPI 100.40 99 100 101 103 113 Index Points [+]
Core Consumer Prices 99.80 100 100 102 103 111 Index Points [+]
Core Inflation Rate -0.40 -0.2 0.1 0.1 0.4 2 percent [+]
GDP Deflator 92.90 93.21 96.07 92.81 95.87 95.61 Index Points [+]
Producer Prices 99.70 103 103 99.64 99.65 105 Index Points [+]
Export Prices 101.00 102 102 102 102 102 Index Points [+]
Import Prices 97.30 101 101 101 101 101 Index Points [+]
Food Inflation 3.60 1.2 1.3 1.3 1.3 1.5 percent [+]
Producer Prices Change -1.20 -0.55 0.29 0.78 0.97 1 percent [+]
Cpi Transportation 98.00 98.66 98.64 98.58 98.58 98.58 Index Points [+]
MONEY Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Interest Rate -0.10 -0.1 -0.1 -0.1 -0.1 0.1 percent [+]
Interbank Rate -0.02 -0.03 -0.03 -0.03 -0.03 0.13 percent [+]
Money Supply M0 94817.40 92356 92354 92376 92370 92370 JPY Billion [+]
Money Supply M1 689330.40 679353 679500 679485 679470 679462 JPY Billion [+]
Money Supply M2 958732.00 961087 968003 975250 982605 1066088 JPY Billion [+]
Money Supply M3 1278798.70 1291053 1299978 1307396 1313548 1340157 JPY Billion [+]
Central Bank Balance Sheet 476498.00 496688 516197 535535 554711 772916 JPY Billion [+]
Foreign Exchange Reserves 1216903.00 1203460 1198811 1196500 1194872 1180773 USD Million [+]
Loans to Private Sector 443274.70 438800 438757 438762 438762 438761 JPY Billion [+]
Deposit Interest Rate 0.40 0.38 0.37 0.36 0.35 0.5 percent [+]
Foreign Stock Investment 346.80 -1.18 -1.35 -1.35 -1.35 -1.35 JPY Billion [+]
Foreign Bond Investment 206.50 185 192 192 192 192 percent [+]
Loan Growth 2.60 2.47 2.52 2.55 2.56 2.59 percent [+]
Private Debt to GDP 243.08 243 244 245 245 254 percent [+]
TRADE Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Balance of Trade 153.00 497 479 250 300 410 JPY Billion [+]
Exports 5956.51 5785 5765 5850 5900 6450 JPY Billion [+]
Imports 5804.00 5288 5286 5600 5600 6040 JPY Billion [+]
Current Account 1415.50 479 344 255 198 1218 JPY Billion [+]
Current Account to GDP 2.90 2.3 2.3 3.2 3.87 2.44 percent [+]
External Debt 368563.00 379520 382461 385513 388592 415943 JPY Billion [+]
Terms of Trade 103.80 101 101 100 100 100 Index Points [+]
Foreign Direct Investment 6090.00 12411 12036 12048 12061 12062 JPY Hundreds Million [+]
Capital Flows 10875.00 24014 23941 23980 23970 23971 JPY HML [+]
Tourism Revenues 20522000.00 17459991 17908100 18539009 19063548 27392106 JPY Thousand [+]
Tourist Arrivals 1875400.00 1885890 1903974 1914089 1919928 1927787 [+]
Gold Reserves 765.22 765 765 765 765 765 Tonnes [+]
Terrorism Index 2.45 1.9 2.15 2.4 2.65 0.11 [+]
Crude Oil Production 4.00 4.01 4.01 4.01 4.01 4.01 BBL/D/1K [+]
GOVERNMENT Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Government Debt to GDP 229.20 230 231 233 234 243 percent [+]
Government Budget -6.00 -6.61 -6.32 -6.03 -5.73 -5.66 percent of GDP [+]
Government Budget Value -51875.00 23263 -116033 -41217 -68656 -69641 JPY HND Million [+]
Government Spending 106087.60 107011 107392 107812 108221 113394 JPY Billion [+]
Military Expenditure 46345.80 46349 46449 46548 46649 46423 USD Million [+]
Asylum Applications 1046.00 1051 1052 1052 1052 1052 Persons [+]
Government Spending To Gdp 42.10 42.59 43.12 43.65 43.37 42.88 percent [+]
BUSINESS Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Business Confidence 10.00 5 5 13.73 10 2 [+]
Manufacturing PMI 52.40 52.3 51.6 51.3 51.4 51 [+]
Services Pmi 52.30 52.5 51.4 51.5 52.1 50.8 Index Points [+]
Industrial Production 4.60 2.3 2.3 2.5 2.86 4.39 percent [+]
Industrial Production Mom 1.50 0.1 0.1 0.09 0.4 0.1 percent [+]
Manufacturing Production 4.62 1.62 1.62 6.59 1.2 3 percent [+]
Capacity Utilization 101.00 97.96 97.96 97.96 97.96 97.96 Index Points [+]
New Orders 954.08 960 960 960 960 960 JPY Billion [+]
Machinery Orders -5.10 0.58 0.58 0.56 0.56 0.56 percent [+]
Changes in Inventories 1396.90 731 519 392 351 577 JPY Billion [+]
Bankruptcies 710.00 688 694 690 690 690 Companies [+]
Corporate Profits 16963.94 17166 18673 17476 18848 18441 JPY Billion [+]
Coincident Index 115.10 115 115 115 115 115 [+]
Economy Watchers Survey 51.40 49.43 48.33 47.4 46.72 44.86 [+]
Car Production 730322.00 698753 696177 692299 691720 692562 Units [+]
Car Registrations 227766.00 244495 203506 249468 208368 207271 Cars [+]
Leading Economic Index 102.70 101 101 101 101 101 Index Points [+]
Small Business Sentiment 1.00 1.25 3.05 2.51 3.32 2.82 [+]
Steel Production 8618.01 8739 8739 8739 8739 8739 Thousand Tonnes [+]
Mining Production 1.83 -1.21 -1.49 -1.57 -1.61 -1.66 percent [+]
Cement Production 5176.00 5151 5126 5108 5111 5113 Thousands of Tonnes [+]
Competitiveness Index 5.48 5.46 5.46 5.46 5.46 5.45 Points [+]
Competitiveness Rank 8.00 7 7 7 9 6 [+]
Composite Pmi 52.80 51.83 51.02 50.74 50.99 50.96 [+]
Ease of Doing Business 34.00 31.73 32.13 32.52 32.92 30.85 [+]
Corruption Index 75.00 77.7 76.38 75.05 73.73 74.96 Points [+]
Corruption Rank 18.00 16.69 16.94 17.2 17.45 19.9 [+]
CONSUMER Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Consumer Confidence 43.10 40.02 40.09 40.16 40.15 40.13 [+]
Retail Sales MoM 0.20 0.7 0.7 0.05 1.2 1.2 percent [+]
Retail Sales YoY 1.70 1 1 0.16 0.5 0.9 percent [+]
Household Spending -1.50 -0.64 -0.69 -0.72 0.5 2 percent [+]
Consumer Spending 296860.10 296690 297067 297452 297847 303206 JPY Billion [+]
Disposable Personal Income 351.89 404 440 407 428 422 JPY Thousand [+]
Personal Savings 12.40 14.09 16.35 14.47 15.87 15.32 percent [+]
Bank Lending Rate 0.95 0.95 0.95 0.95 0.95 1.2 percent [+]
Consumer Credit 235780.00 244892 246141 247192 248260 256235 JPY Billion [+]
Gasoline Prices 1.12 1.14 1.16 1.1 1 0.94 USD/Liter [+]
Households Debt To Gdp 65.90 65.96 65.92 65.92 65.92 65.92 percent of GDP [+]
HOUSING Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Housing Starts 6.70 0.7 0.7 0.5 0.45 1.5 percent [+]
Construction Orders -6.00 2 2 4.58 3 2.2 percent [+]
Housing Index 107.89 108 108 108 108 108 Index Points [+]
Home Ownership Rate 61.90 61.91 61.95 61.99 62.03 62.49 percent [+]
TAXES Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Corporate Tax Rate 30.86 30.86 30.86 30.86 30.86 30.62 percent [+]
Personal Income Tax Rate 55.95 50.84 50.84 55.95 55.95 55.95 percent [+]
Sales Tax Rate 8.00 8 8 8 8 10 percent [+]
Social Security Rate 29.60 29.25 29.25 29.6 29.6 29.6 percent [+]
Social Security Rate For Companies 15.20 15.02 15.02 15.2 15.2 15.2 percent [+]
Social Security Rate For Employees 14.40 14.22 14.22 14.39 14.39 14.39 percent [+]





Economic Forecasts for Japan including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Japan economy. 1/18/2017