Japanese spending and earnings report
- Prior was -10.2%
- Spending +2.1% m/m vs +1.0% exp
Labor cash earnings -0.8% y/y
- expected -0.7% y/y, prior -0.9%
Real cash earnings -0.2% y/y
- expected -0.4% y/y, prior -1.1%
The headline spending numbers are a bit softer than hoped for but this is the first y/y rise in 13 months.
With Japan set to unveil another stimulus package, it’s all blue sky from here.