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Japan's August Eco Watchers Survey points to the economy’s fading growth momentum - BNP Paribas

FXStreet (Łódź) - Raymond Van Der Putten, economist at BNP Paribas, comments on the poor Japan Economy Watchers Survey results, published today.

Key quotes


"Today’s Economic Watchers Survey confirms the fading growth momentum in the economy."

"In August, the current condition index dropped sharply by 3.9 points to 47.4. This decline is partly related to unfavourable weather (slow moving typhoons that caused heavy rainfall) and rising prices for fuel and materials."

"On the other hand, a growing number of respondents noted that the fall in demand after the VAT-hike had been waning."

"Today’s survey will increase calls on the BoJ to step up its asset buying programme."

"However, we are rather doubtful of such a change in policy."

"More asset buying may lead to a further depreciation of the yen and worsening purchasing power."

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