The latest Japanese economic data show that the recovery is resuming.
On Monday, the coincident and leading indicators came out positive. From Nikkei:
The composite index of coincident economic indicators for January climbed 2.5 points on the month to 106.2, rising for a third straight month and logging the third-largest improvement on record, according to preliminary data released Monday by the Cabinet Office...
Meanwhile, the index of leading economic indicators, which predicts economic conditions several months down the road, also rose for a third straight month by inching up 0.9 point to 101.9.
Findings from the economy watchers survey released today also pointed to an improving economy. The Mainichi reports:
Confidence among workers sensitive to Japan's economic trends improved in February for the first time in two months amid signs of recovery in private consumption, the government said Tuesday.
The diffusion index measuring business sentiment among the "economy watchers," such as shop clerks, hotel managers and taxi drivers, rose to 48.4 in the reporting month from 44.3 in January, despite lingering concerns about the recent sharp rise in commodities prices, the Cabinet Office said...
Another index, measuring the watchers' sentiment about two to three months ahead, remained unchanged at 47.2. The components of household spending and employment slightly gained while the corporate activity component dropped.
Other data today showed that Japan's trade balance fell into deficit in January. AFP/CNA reports:
Japan's current account surplus shrank 47.6 per cent from a year earlier in January as the trade balance fell into its first deficit in two years, the finance ministry said on Tuesday...
Exports in January rose a modest 2.9 percent because of weak demand in Asia ahead of China's Lunar New Year holiday.
Imports expanded 15.6 per cent as Japan bought more crude oil and iron ore, resulting in the first deficit in trade balance since January 2009, the official data said.