This survey may suggest to many readers that the economic data compiled by the Japanese government and other sources are abundant, thereby confirming the widely held view that the quality and the quantity of the information are excellent. That impression would be misleading, at least in reference to what is available in the United States and in Canada. Compared with U.S. statistics, for example, Japanese data are released more slowly, are less comprehensive and are not as likely to be available on-line. Finally, Japanese analysts, particularly but not exclusively those in the government, do not always give an unbiased analysis of the numbers. In short, caution is in order, both in interpreting the numbers and in assessing analysts' interpretations.
Patience also is needed.
Quarterly data, particularly the GDP statistics, provide a more comprehensive picture of the economy than the monthly figures often used. Gaining an understanding of the world's second-largest economy is like fitting together a jigsaw puzzle. Without most of the pieces in place, the picture will not be clear. Moreover, the process cannot be rushed. The views expressed in this report are those of the author and do not necessarily represent those of the Japan Economic Institute.