Japan data – June Household Spending +1.3% y/y (vs. expected +2.6%) | investingLive

Japan data – June Household Spending

+1.3% y/y

• expected +2.6%, prior +4.7%

-5.2% m/m

• expected -3.0%, prior +4.6%

Still to come from Japan today is the ‘Summary of Opinions’ from the Bank of Japan July 30-31 meeting:

The Bank of Japan is closely watching consumption and wage trends to help determine when to raise interest rates next.
Data released Wednesday showed Japan’s inflation-adjusted wages declined in June for the sixth straight month, as price growth continued to outpace pay gains — a trend that has sparked concerns over a consumption-driven recovery in the world’s fourth-largest economy.

On Thursday, the government lowered its growth forecast for the current fiscal year, citing the impact of U.S. tariffs on capital spending and the drag from persistent inflation on household consumption.