Japan’s Economy Surges on Strong Car Exports

Japan’s economy in 2023

– Japan’s GDP growth rate (April-June 23): 6%
– Consensus estimate of economists for GDP growth: 2.9%
– Number of consecutive quarters of expansion: 3
– Quarter-on-quarter GDP growth: 1.5%
– Average forecast for quarter-on-quarter GDP growth: 0.8%
– Export growth rate (second quarter): 3.2%
– Quarter-on-quarter fall in private consumption: 0.5%
– Quarter-on-quarter fall in imports: 4.3%
– Proportion of Japanese economy represented by private consumption: more than half
– Percentage of pre-pandemic levels for inbound tourism: more than two-thirds

Private equity in China

• Goldman Sachs, JPMorgan, Morgan Stanley, Bank of America, and Citigroup collectively saw an 87% drop in net revenue from advising Chinese companies on raising equity overseas last year. This trend continued in 2023, with only $98 million earned since January.