Gavekal Capital: Japanese Data Roundup

Monday, March 10, 2014

Japanese Data Roundup

The last few days have seen some important data points out of Japan. Below is a quick snapshot of some of those.

1) The Economy Watchers Survey posted a drop in the current conditions component, but the future conditions component plummeted by the largest single month amount since the earthquake in 2011.

Bank loans posted a small MoM drop but continue to grow an an historically high rate.

Trade numbers revealed more of the same: imports growing while exports remain stagnant to down. Below we show the volume of imports and exports to help mitigate currency effects. From this perspective import volume grew by 8% YoY in January while export volume fell by .2%.

Finally, 4th quarter GDP was revised down slightly to growth of .7% annualized.

About Gavekal Capital

Gavekal Capital is a US registered investment advisory firm that manages the Gavekal Knowledge Leaders Strategy. Knowledge Leaders are a group of the world’s leading innovators with deep reservoirs of intangible capital. These companies often possess competitive advantages such as strong brand, proprietary knowledge or a unique distribution mechanism. Knowledge Leaders are largely service-based and advanced manufacturing businesses, often operating globally. Gavekal Capital seeks to identify the world’s leading knowledge companies through a proprietary process that analyzes corporate knowledge investments.
We offer the Gavekal Knowledge Leaders Strategy in multiple products for global investors. For more information about our product offerings please visit http://www.gavekalcapital.com.
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