Japan August Household spending -2.5% y/y

<p>Household spending data from Japan for August 2023. </p><p> -2.5% y/y</p><ul><li>expected -4.3%, prior -5.0% </li></ul><p>3.9% m/m</p><ul><li>expected +0.9% and prior -2.7%</li></ul><p>The y/y drop has extended to six consecutive months with this data point today.</p><p>Its difficult to see the Bank of Japan getting too excited about raising interest rates with such data. </p>

This article was written by Eamonn Sheridan at www.forexlive.com.