Christmas Day, Little Else to Say

December 25, 2015

Outside of Japan, where several indicators were reported, Christmas 2015 has been a quiet day in the marketplace.

The dollar recorded dips of 0.3% overnight against the loonie and 0.1% versus the kiwi, Aussie dollar and sterling.  The yen and yuan are unchanged.  The euro and Swissie are 0.1% softer against the greenback.

Japan’s Nikkei slipped 0.1%, and the 10-year JGB is unchanged at 0.27%.  Commodities firmed.

Core Japanese CPI inflation exceeded zero for the first time since June.  The total CPI fell 0.1% seasonally adjusted between October and November and recorded the same 0.3% 12-month rate of increase as in October.  Consumer prices excluding perishable food and energy went up 0.9% on year.

Tokyo consumer prices slipped 0.1% on month and were unchanged on year, but the core rate of 0.1% was positive for the first time in six months.

Japan’s jobless rate bounced 0.2 percentage points to 3.3% after falling from 3.4% in August and September to 3.1% in October. Jobs grew 0.1% on year.

Real Japanese household spending slumped 3.0% in November, the second decline in three months and recorded a 2.9% year-over-year decline.  Real disposable income was 2.5% lower in November than a year earlier.

Japanese corporate service prices increased 0.2% in November both from October and from a year earlier.  The 12-month rise was the smallest in eight months.

Housing starts grew 1.7% in Japan from a year earlier during November.  Construction orders swung from a 25.2% 12-month plunge in October to a 5.7% rise in November.

Japan’s index of leading economic indicators rose 0.8 points in October to a 3-month high of 104.2.  The index of coincident economic indicators went up 1.5 points to a 6-month high of 113.3 but was still characterized by officials as to be in a “weakening trend.”

Merry Christmas Everyone!

Copyright 2015, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.



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