- The December current account surplus, on a non-seasonally adjusted basis, rose by 452.8%YY after +76.9%YY in November, because of trade balance surpluses.
- Money Stock and Bank Lending in January: Bank lending declined for the second consecutive month.
- January Economy Watchers Survey: Rose for the second consecutive month.
- Downward revision to our 4Q09 GDP estimation – The Cabinet Office on February 3 announced that it will revise how it adjusts seasonal variations for exports and imports. Our revised estimation based on the new method indicates that contribution to GDP growth from external demand declined to +0.2ppt from +0.6ppt previously, leading to real GDP growth of +0.8% QoQ and +3.3% QoQ annualized in the fourth quarter of 2009.
Download Japan Economic Daily (08 Feb 2010)
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