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Japan’s Service Sentiment Hits Two-And-A-Half-Year High, Bankruptcies Fall | Investing News

October 8, 2020

By Daniel Leussink and Leika Kihara

TOKYO (Reuters) – Japan’s service sector sentiment rose in September to the highest level in 2-1/2 years, government data showed on Thursday, suggesting that the economy is gradually recovering from the devastating impact of the coronavirus pandemic.

A survey of workers such as taxi drivers, hotel workers and restaurant staff – called “economy watchers” for their proximity to consumer and retail trends – showed their confidence about current economic conditions grew 5.4 points from August to 49.3 in September.

It was the highest level since April 2018 and the fifth straight month of increase, boding well for the government’s efforts to prevent a pandemic-driven recession from deepening.

“While conditions remain severe due to the pandemic’s fallout, sentiment is improving,” the government said on the survey. “While there are concerns over the pandemic, sentiment is likely to continue recovering,” it said.

A separate private survey

Indicator Suggests Japan’s Economy Stopped Contracting in August | Investing News

October 8, 2020

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TOKYO (Reuters) – Japan’s government upgraded its assessment of the economy on Wednesday for the first time since May 2019 after a key indicator improved for August, pointing to a gradual recovery from the impact of the coronavirus pandemic.

The index of coincident economic indicators, which measures a range of data including factory output, employment and retail sales numbers, rose a preliminary 1.1 points from the previous month to 79.4 in August, the Cabinet Office said on Wednesday.

Based on the index data, the Cabinet Office said that showed economic activity in the world’s third-largest economy had stopped contracting, an upgrade from its previous view that the economy was “worsening” in July.

“There is a possibility that the index will grow further this year as there is room for exports, notably auto shipments, and consumer spending to recover,” said Koya Miyamae, senior economist at SMBC Nikko Securities.

“The economy overall

Indicator suggests Japan’s economy stopped contracting in August

October 7, 2020

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By Kaori Kaneko

a group of people walking down the street: FILE PHOTO: People wearing protective masks make their way at a business district in Tokyo

© Reuters/Kim Kyung Hoon
FILE PHOTO: People wearing protective masks make their way at a business district in Tokyo

TOKYO (Reuters) – Japan’s government upgraded its assessment of the economy on Wednesday for the first time since May 2019 after a key indicator improved for August, pointing to a gradual recovery from the impact of the coronavirus pandemic.

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The index of coincident economic indicators, which measures a range of data including factory output, employment and retail sales numbers, rose a preliminary 1.1 points from the previous month to 79.4 in August, the Cabinet Office said on Wednesday.

Based on the index data, the Cabinet Office said that showed economic activity in the world’s third-largest economy had stopped contracting, an upgrade from its previous view that the economy was “worsening” in July.

“There is a possibility that the index will grow further this year as there

Japan’s Koizumi Eyes Reform in a $15 Billion Power Market

October 7, 2020

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(Bloomberg) — In a couple of years, Japan will be paying the highest rates in the world to incumbent power utilities simply for maintaining generation capacity, including coal and nuclear plants, to help meet electricity demand in times of scarcity.

That windfall comes at a time when Japan is seeking to liberalize its market, encourage new entrants and boost the use of renewables. That’s why the extra billions to traditional power plants don’t sit right with Environment Minister Shinjiro Koizumi, who said Tuesday the system should be reformed so that it helps expand Japan’s clean energy capacity.

“I have heard from new entrants in power retailing that the system could deal a serious blow to their businesses,” Koizumi said during a briefing in Tokyo. “It needs to be reformed so that it will promote expansion of clean energy.”

Shinjiro Koizumi wearing a suit and tie: Japan’s Koizumi to Propose Expanded 2030 Emissions Cut Goal

© Bloomberg
Japan’s Koizumi to Propose Expanded 2030 Emissions Cut Goal

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Japan’s services sector market contracted for eighth-straight month in September

October 5, 2020

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TOKYO – Activity in Japan’s services sector contracted for the eighth straight month in September but at the slowest pace since the coronavirus pandemic started wreaking havoc on the economy, a private business survey showed on Monday, in a sign that demand is starting to steady.

The final Jibun Bank Japan Services Purchasing Managers’ Index (PMI) rose to its highest in eight months, coming in at a seasonally adjusted 46.9 from 45.0 in the previous month.

The headline index, while still below the 50 neutral level, was higher than a preliminary reading of 45.6, suggesting conditions were moving closer to stabilisation.

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“Overall, there are signs of improvement in the sector, however recovery is far from secure,” said Shreeya Patel, economist at IHS Markit, which compiles the survey.

Japan’s Sept service sector activity shrinks at slowest pace since pandemic’s start

October 5, 2020

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TOKYO, Oct 5 (Reuters) – Activity in Japan’s services sector contracted for the eight straight month in September but at the slowest pace since the coronavirus pandemic started wreaking havoc on the economy, a private business survey showed on Monday, in a sign that demand is starting to steady.

The final Jibun Bank Japan Services Purchasing Managers’ Index (PMI) rose to its highest in eight months, coming in at a seasonally adjusted 46.9 from 45.0 in the previous month.

The headline index, while still below the 50 neutral level, was higher than a preliminary reading of 45.6, suggesting conditions were moving closer to stabilisation.

“Overall, there are signs of improvement in the sector, however recovery is far from secure,” said Shreeya Patel, economist at IHS Markit, which compiles the survey.

“Demand across the country remains subdued, with tourism and travel restrictions impeding new work volumes across the service sector.”

The

Japan’s September Service Sector Activity Shrinks at Slowest Pace Since Pandemic’s Start | Investing News

October 5, 2020

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TOKYO (Reuters) – Activity in Japan’s services sector contracted for the eight straight month in September but at the slowest pace since the coronavirus pandemic started wreaking havoc on the economy, a private business survey showed on Monday, in a sign that demand is starting to steady.

The final Jibun Bank Japan Services Purchasing Managers’ Index (PMI) rose to its highest in eight months, coming in at a seasonally adjusted 46.9 from 45.0 in the previous month.

The headline index, while still below the 50 neutral level, was higher than a preliminary reading of 45.6, suggesting conditions were moving closer to stabilisation.

“Overall, there are signs of improvement in the sector, however recovery is far from secure,” said Shreeya Patel, economist at IHS Markit, which compiles the survey.

“Demand across the country remains subdued, with tourism and travel restrictions impeding new work volumes across the service sector.”

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Japan’s jobs market worsens in August as coronavirus damage persists

October 2, 2020

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By Yoshifumi Takemoto

TOKYO, Oct 2 (Reuters) – Japan’s unemployment rate rose in August to its highest in over three years and job availability fell to a more than six-year low, government data showed on Friday, indicating damage caused by the COVID-19 pandemic persisted through the month.

The figures come after new prime minister Yoshihide Suga pledged to protect jobs, keep companies in business and help the economy recover from the impact of measures taken to curb the spread of the novel coronavirus.

They also dull any optimism brought by recent data such as factory output and business sentiment which offered signs of economic recovery.

Japan’s seasonally adjusted jobless rate rose to 3.0% in August, the highest since May 2017, labour ministry data showed. The result met analysts’ median forecast of 3.0%.

The jobs-to-applicants ratio fell to 1.04, matching a level last seen in January 2014. It compared with

Japan’s ‘tankan’ economy survey shows improved sentiment

October 1, 2020

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TOKYO (AP) — Japanese manufacturers’ sentiments improved for the first time in three years, a quarterly Bank of Japan survey showed Thursday, as the nation grappled with stagnation worsened by the coronavirus pandemic.

The headline measure for the “tankan,” tracking sentiment among large manufacturers, stood at minus 27, an improvement of seven points from the previous survey that came out in July.

The tankan measures corporate sentiment by subtracting the number of companies saying business conditions are negative from those responding they are positive.

That measure had declined for six quarters straight, to an 11-year low, before Thursday’s report.

Sentiment among large nonmanufacturers improved by five points to minus 12.

Despite some positive signs in the tankan, the numbers are still in the minus range, meaning pessimism is still rampant in Japan Inc. and the world’s third largest economy has a long way to go before it’s on a solid

Japan’s factories suffer record 17th month of declining activity

October 1, 2020

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TOKYO, Oct 1 (Reuters) – Japan’s factory activity posted its longest streak of declines on record in September, a private sector survey showed on Thursday, highlighting the struggle policymakers face to put the coronavirus-ravaged economy on a firm recovery path.

The health crisis has taken a huge toll on the manufacturing sector in the world’s third-largest economy, with output and exports struggling amid fragile global demand conditions.

The final au Jibun Bank Japan Manufacturing Purchasing Managers’ Index (PMI) edged up to 47.7 in September from the previous month’s 47.2 and a preliminary 47.3 reading.

The headline index stayed below the 50.0 threshold that separates contraction from expansion for a 17th month – surpassing a 16-month run through June 2009 to mark the longest streak of declines on record.

The survey showed output, new orders and work backlog contracted again, although at a more modest pace, suggesting it may take a