Justin posted on the Japanese inflation data here: Some Japanese inflation data from earlier today
Also out was spending data, in brief:
- November household spending +1.7%, against an expected of +0.5% and prior flat (0.0% y/y change)
- A solid beat
- Spending driven by broad gains across sectors - refrigerators, washing machines, sporting goods, services (eg. restaurants), and travel
And labour markets data:
November unemployment rate 2.7%
- expected 2.8%, prior 2.8%
- a new 24-year low
November jobs to applicant ratio 1.56
- expected 1.56, prior 1.55
- Around 1.56 is close to a 44 year high
While inflation results are still well below target, other data, such as these above, are showing good improvement for the economy. It's a conundrum for the Bank of Japan, they repeat again and again they'll keep accommodative policy until inflation is sutained at target, and yet economic indicators are showing great improvement. A conundrum, but authorities will be chuffed with the economic recovery trend.
