Japan wages data for July: Labor cash earnings -1.3% y/y (expected -1.5%)

Labor cash earnings -1.3% y/y

  •  expected -1.5% y/y, prior -2.0%

Real cash earnings -1.6% y/y

  • expected -1.9% y/y, prior -2.1%
Japan real wages have declined for a 5th straight month in July.
Overtime pay (used as a gauge of strength in corporate activity_ fell 16.6% y/y.
Regular pay (base salary) +0.3%