Japan December household spending -2.5% vs -2.1% expected

<ul><li>Prior was -2.9%</li><li>Spending m/m -0.9% vs +0.2% expected (-1.0% m/m prior)</li><li>Overtime pay -0.7% vs +0.9% prior</li><li>Overall labour cash earnings +1.0% vs +0.2% prior</li></ul><p>There hasn't been a positive year-over-year number since February 2023.</p><p>This is a substantial miss on the m/m number and may give the BOJ pause ahead of the March 19 meeting. We won't have to wait long with Ueda set to appear in parliament at 1:41 pm local time (0441 GMT).</p><p>The BOJ said it's watching spring wage negotiations carefully so we're waiting for more indications on that.</p>

This article was written by Adam Button at www.forexlive.com.