Japan retail sales data for July

+1.2% m/m,

  • expected 0.6%, prior was -0.6%

+1.6% y/y,

  • expected 1.1%, prior was 1.0%

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Retail sales easily beating expectations and the previous month's results. Earlier we got household spending data (see link below) missing expectations and therefore painting a different picture.

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Earlier:

  • Japan data: Overall Household Spending -0.2y/y for July (expected +0.5%) + jobs data
  • Japan CPI for July: 0.2% y/y (expected 0.2%)