JPY: Economy struggling to sustain positive growth momentum - BBH

Research Team at BBH, suggests that the Japanese economy continues to struggle to sustain positive growth momentum.

Key Quotes

“Earlier today, the preliminary April manufacturing PMI slumped to a new record low of 48.0 from 49.1. The median forecast was for a small increase. The tertiary index for February fell 0.1% while the January series was halved from 1.5% to 0.7%.

Next week Japan is expected to report weak household spending, a negative CPI print, and a fall in housing starts. The labor market remains firm, and industrial output may recover around half of February's 5.2% decline.”