Gauging the Pulse of the Economy…

Economic Research	21 June 2016
JAPAN
Economic Highlights
Gauging the Pulse of the Economy… The positive real GDP surprise in 1q16, up 0.5% sequentially, partly contributed to our upward, though tentative, revision to the outlook. Although our earlier exercise implies a much weaker growth profile for the first six months, the updated revisions to the source data for 1q16 GDP now seem more-or-less in-line with the guidance from our now casting model (kindly refer to chart 1). Nevertheless, the mixed signals from available indicators thus far for current quarter GDP still impart a reasonable dose of hesitancy to the outlook. Economist:  Thomas Lam  | +65 6533 0389
To access our recent reports please click on the links below: 16 June: There’s still a Chance… 06 June: Is the Sky Falling? 02 June: The Swing in Broad Market Conditions... 26 May: Tentative but Broadly In line… 19 May: Rate Hike Debate Intensifies? 09 May: Early Peek into 2q16?