Three economic data points from Japan
Overall Household Spending y/y for December, -0.3% ... down, but not as bad as expected
- expected -0.9%, prior was -1.5%
- For the m/m, down 0.6%
Jobless Rate for December, 3.1%
- expected 3.1%, prior was 3.1%
Job-To-Applicant Ratio for December, 1.43
- expected 1.42, prior was 1.41
The spending data is poor, just not as poor as expected. Consumer spending in Japan has been MIA in Japan, which is not helping the administration with their goal of a virtuous circle for growth. wage rises would help, and these have been slow too.
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Still to come from Japan:
2350GMT
Japan Industrial Production m/m for December (preliminary reading),
- expected is 0.3%, prior was 1.5%
Industrial Production y/y for December (preliminary),
- expected is 3.0%, prior was 4.6%
And later ... Bank of Japan announcement, previews:
- Bank of Japan announcement due today - preview
- BOJ meeting - Bank poised to upgrade its outlook
- Q: What time is the Bank of Japan announcement today? A: Well, it depends
- BOJ is a "secondary engine" for USD/JPY - Deutsche Bank
Japan data (Dec.): Overall Household Spending -0.3% y/y (expected -0.9%) (+ more)
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