Plenty of data earlier on from Japan today:
- Japan (Feb. prelim.) Industrial Production 2.0% m/m (vs. expected 1.2%)
- Japan headline inflation (February): 0.3% y/y (vs. expected 0.2%)
- Japan - (Feb) Overall Household Spending: -3.8% y/y (expected -1.7%) (& more data)
Some recaps from around the place, this via Bloomberg:
Marcel Thieliant, senior Japan economist at Capital Economics: "there is still no evidence that the tighter labor market is fueling price pressures" citing higher energy prices as the cause of the recent uptick in the primary inflation gauge
The Japanese economy continues to disappoint in that households are left behind without much in the way of raises, even as the labor market tightens and inflation picks up, said Masaki Kuwahara, senior economist at Nomura Securities Co.
And, via Reuters:
Japan"s core consumer prices rose 0.2 percent in February from a year earlier ... the fastest annual pace in nearly two years but still distant from the central bank"s ambitious 2 percent target.With the increase driven largely by a rebound in fuel costs, the data underscores the challenges the Bank of Japan faces in generating sustained price rises backed by steady wage growth.
Japan inflation, household spending, industrial production data - recaps
Japan inflation, household spending, industrial production data - recaps
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