Japan Household Spending for July 0.8% y/y (expected 0.8%) - wages data also

Author: Eamonn Sheridan | Category: News

Household Spending in line with estimates 

For July 0.8% y/y
  • expected 0.8%, prior 2.7%

Labor Cash earnings for July disappoint at -0.3% y/y

  • expected 0.7%, prior 0.4%

Real Cash earnings for July -0.9% y/y

  • expected -0.7%, prior -0.5% ..

While the data release tends not have much immediate impact on FX its nevertheless useful info on developments in the economy. Slow wage growth, in this case its not growth but shrinkage, will weigh on consumer spending. Which is probably getting a boost ahead of the imminent raising of the retails sales tax. 

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