Did The Japanese Economic Comeback Just Begin?

Joe Weisenthal

Japan's stock market has been on a tear since last fall thanks to a new government and a commitment to more aggressive fiscal and monetary easing.

But the verdict is still out on the economy.

However there are signs of things humming to life.

Tonight Japanese manufacturing PMI for April came out, and the reading (via Markit) was the best in 13 months.

And that's not all.

Retail spending (which has been notoriously weak for ages in Japan) just came in with a surprisingly strong number.

Japan March household spending +5.2% y/y (vs. +1.6% expected) bit.ly/ZSmi7e
— ForexLive (@ForexLive) April 29, 2013

And unemployment is dropping/beating expectations.

Japan March unemployment rate 4.1% (vs. 4.2% expected) bit.ly/12LtLVX
— ForexLive (@ForexLive) April 29, 2013

Three good datapoints related to labor, manufacturing, and spending. That's a trend.