Markets Actual Q1/26 Q2/26 Q3/26 Q4/26
Currency 154.95 152 150 149 148
Stock Market (points) 56825.70 55786 52409 50285 48241
Government Bond 10Y (%) 2.11 2.18 2.09 2.02 1.96

Overview Actual Q1/26 Q2/26 Q3/26 Q4/26
GDP Growth Rate (%) 0.10 0.4 0.3 0.1 0.4
GDP Annual Growth Rate (%) 0.10 0.6 0.5 0.8 0.7
GDP Growth Annualized (%) 0.20 1.8 1.4 1.5 2
Unemployment Rate (%) 2.60 2.7 2.7 2.6 2.6
Inflation Rate (%) 1.50 2 2.2 2.3 2.1
Inflation Rate MoM (%) -0.20 0.3 0.2 0.2 0.1
Interest Rate (%) 0.75 0.75 0.75 1 1
Balance of Trade (JPY Billion) -1152.66 470 700 150 -500
Current Account (JPY Billion) 7288.00 3100 1430 1500 980
Manufacturing PMI (points) 52.80 51 50.8 50 51.5
Services PMI (points) 53.80 51.5 51.3 50.8 51
Business Confidence (points) 15.00 14 13 12 15
Consumer Confidence (points) 37.90 38 37 36.9 37
Retail Sales MoM (%) -2.00 -0.8 -0.8 0.6 -0.5
Current Account to GDP (% of GDP) 4.70 3.5
Government Debt to GDP (% of GDP) 236.70 228
Government Budget (% of GDP) -2.30 -3.7

GDP Actual Q1/26 Q2/26 Q3/26 Q4/26
GDP Growth Rate (%) 0.10 0.4 0.3 0.1 0.4
GDP Annual Growth Rate (%) 0.10 0.6 0.5 0.8 0.7
GDP Growth Annualized (%) 0.20 1.8 1.4 1.5 2
GDP Constant Prices (JPY Billion) 589727.60 593842 596286 594133 593856
Gross National Product (JPY Billion) 618448.60 620295 622811 626399 622778
Gross Fixed Capital Formation (JPY Billion) 106035.80 105000 107000 107000 107000
GDP (USD Billion) 4026.21 5390
GDP per Capita (USD) 37144.91 37405
GDP per Capita PPP (USD) 46097.43 46420
Full Year GDP Growth (%) 0.10 0.7
GDP from Public Administration (JPY Billion) 28319.80 28518
GDP from Construction (JPY Billion) 31263.60 31482
GDP from Transport (JPY Billion) 32462.70 32690
GDP from Services (JPY Billion) 24487.50 24659
GDP from Manufacturing (JPY Billion) 110990.40 111767
GDP from Agriculture (JPY Billion) 5899.90 5941
GDP from Utilities (JPY Billion) 18737.60 18869
GDP from Mining (JPY Billion) 210.10 212

Labour Actual Q1/26 Q2/26 Q3/26 Q4/26
Unemployment Rate (%) 2.60 2.7 2.7 2.6 2.6
Unemployed Persons (Thousand ) 1860.00 1700 1720 1750 1730
Employed Persons (Thousand ) 68460.00 68200 68000 68500 68600
Youth Unemployment Rate (%) 2.40 2.5 2.5 2.4 2.4
Productivity (points) 98.40 113 108 110 115
Job Vacancies (Thousand ) 807.89 810 800 830 845
Wages (JPY/Month) 756978.00 354552 636552 340117 770604
Wages in Manufacturing (JPY/Month) 931434.00 383417 681338 371834 948200
Wage Growth (%) 2.40 2.1 1.8 1.5 1.8
Minimum Wages (JPY/Hour) 1064.00 1130
Population (Million) 123.80 123

Prices Actual Q1/26 Q2/26 Q3/26 Q4/26
Inflation Rate (%) 1.50 2 2.2 2.3 2.1
Inflation Rate MoM (%) -0.20 0.3 0.2 0.2 0.1
Consumer Price Index CPI (points) 112.90 113 114 115 115
Core Inflation Rate (%) 2.00 2.4 2.3 2.1 2.3
Core Consumer Prices (points) 112.00 113 114 114 115
GDP Deflator (points) 115.40 111 116 114 118
Producer Prices (points) 128.40 129 129 129 130
Food Inflation (%) 3.90 3.6 3 2.5 2.2
CPI Transportation (points) 99.70 100 100 100 100
CPI Housing Utilities (points) 104.60 106 106 107 107
CPI Core Core (%) 2.60 2.7 2.5 2.3 2.1
Producer Prices Change (%) 2.30 2 1.9 1.9 1.8

Money Actual Q1/26 Q2/26 Q3/26 Q4/26
Interest Rate (%) 0.75 0.75 0.75 1 1
Loan Growth (%) 4.50 4.5 4.7 3.4 3.5
Private Debt to GDP (%) 169.90 169

Trade Actual Q1/26 Q2/26 Q3/26 Q4/26
Balance of Trade (JPY Billion) -1152.66 470 700 150 -500
Current Account (JPY Billion) 7288.00 3100 1430 1500 980
Exports (JPY Billion) 9187.49 9970 10000 9350 10500
Imports (JPY Billion) 10340.15 9500 9300 9200 11000
Tourist Arrivals 3634000.00 3300000 3000000 2900000 2900000
Current Account to GDP (% of GDP) 4.70 3.5

Business Actual Q1/26 Q2/26 Q3/26 Q4/26
Manufacturing PMI (points) 52.80 51 50.8 50 51.5
Services PMI (points) 53.80 51.5 51.3 50.8 51
Business Confidence (points) 15.00 14 13 12 15
Industrial Production (%) 2.60 3.3 2 1 1
Manufacturing Production (%) 2.60 2 1.6 1.3 1.3
Capacity Utilization (points) 101.30 106 107 108 110
Bankruptcies (Companies) 887.00 860 840 821 720
Corporate Profits (JPY Billion) 27538.53 28000 34500 25000 29500
Economy Watchers Survey (points) 47.60 50.4 51.3 51 52
Car Production (Units) 587348.00 625000 700000 690000 645000
Car Registrations (Units) 200047.00 270000 230000 200000 280000
Leading Economic Index (Points) 110.20 115 117 114 120
Small Business Sentiment (points) 6.00 1 -1 -3 1
Tankan Large Manufacturing Outlook (points) 15.00 14 13 14 13
Composite PMI (points) 53.80 51.3 50.8 51 51.1
Non Manufacturing PMI (points) 34.00 39 40 42 45
Reuters Tankan Index (points) 13.00 7 4 8 11

Consumer Actual Q1/26 Q2/26 Q3/26 Q4/26
Consumer Confidence (points) 37.90 38 37 36.9 37
Retail Sales MoM (%) -2.00 -0.8 -0.8 0.6 -0.5
Retail Sales YoY (%) -0.90 2.1 2.3 1.8 1.6
Household Spending (%) -2.60 1.3 2 1.5 1.4
Consumer Spending (JPY Billion) 309442.20 309063 309438 311589 311608
Disposable Personal Income (JPY Thousand) 1010.41 429 780 417 1017
Personal Savings (%) 0.40 7.4 4 2 9
Bank Lending Rate (%) 2.75 2.75 2.75 3 3
Consumer Credit (JPY Billion) 57202.60 56351 56735 57660 57603
Gasoline Prices (USD/Liter) 1.02 1.03 1.07 1.1 1.13

Housing Actual Q1/26 Q2/26 Q3/26 Q4/26
Housing Starts (Units) 62118.00 93904 53158 63252 62739
Construction Orders (%) 20.20 -4 2 3 5
Housing Starts YoY (Percent) -1.30 5 -5 -0.5 1

Government Actual Q1/26 Q2/26 Q3/26 Q4/26
Government Debt to GDP (% of GDP) 236.70 228
Government Budget (% of GDP) -2.30 -3.7
Government Spending to GDP (% of GDP) 39.40 43