Recent Updates
- US: Consumer Sentiment (May-final), Personal Income, Adv Trade & Inventories (Apr)
- China: Public Funds Asset Mgmt, SOE Economy Operation (Apr), Star Rated Hotels (Q1)
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- more updates...
Economy in Brief
U.S. Advance Trade Deficit Narrowed Markedly in April
The advance estimate of the U.S. international trade deficit in goods narrowed to $105.9 billion in April...
As Inflation Overshoots, Are Central Banks Overdoing It?
This report is a reminder of how complicated inflation and monetary policy making can be...
U.S. GDP Decline is Little-Revised in Q1'22; Corporate Profits Fall
U.S. real GDP fell 1.5%, SAAR (+3.5% y/y) last quarter...
Kansas City Fed Manufacturing Index Dips in May But Remains Strong
The Kansas City Fed reported that its manufacturing sector business activity index declined to 23 in May...
U.S. Pending Home Sales Decline Sharply in April
Home buying remains under pressure...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Robert Brusca September 21, 2007
Construction sector is on its LIFETIME LOW – since 1993.
The chart on the left shows the 12-month momentum in Japan’s various key sectors. Among them, only construction is contracting and it has been doing that since mid -2006. Construction is at the its lifetime low point. Other sectors are relatively high in their respective ranges – in their 90th percentiles. But momentum is fading across these sectors. MFG is only gradually losing momentum while the tertiary sector (services) has less momentum to start and is also losing it faster. The all industry measure tracks the tertiary sector closely.
| Japan Main Industry Surveys | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Recent Months | Moving Averages | Extremes: Range | |||||||
| Jul 2007 |
Jun 2007 |
May 2007 |
3Mo | 6Mo | 12Mo | Max | Min | %-Tile | |
| All Industry | 107.1 | 107.5 | 107.3 | 107.3 | 107.2 | 106.9 | 107.6 | 93.1 | 1.0 |
| Construction | 78.7 | 80 | 81.6 | 80.1 | 80.3 | 80.4 | 124.6 | 78.7 | 0 |
| Mining and MFG | 108.1 | 108.5 | 107.1 | 107.9 | 107.8 | 107.9 | 109.6 | 87.7 | 0.9 |
| Tertiary | 109.7 | 110.3 | 110.2 | 110.1 | 110.0 | 109.5 | 110.7 | 91 | 0.9 |
| Ranges, Max, Min since 1993 | |||||||||
