Japan July real wages fall 2.5% y/y, and household spending falls 5% y/y

<p>Data from Japan for July 2023 shows real (that is, inflation-adjusted) wages and household spending both fell. Gotta be a PhD in there somewhere on that relationship, yeah? Or maybe Captain Obvious has it already. </p><p>July total cash earning +1.3% y/y (prior +2.3%)</p><ul><li>real wages -2.5% y/y</li><li>overtime pay +0.5% y/y</li></ul><p>Overall household spending -5% y/y (prior -4.2%)</p><p>—</p><p>USD/JPY update:</p><p>Still to come from Japan is the revised Q2 GDP reading:</p><ul><li><a href="https://www.forexlive.com/news/economic-calendar-in-asia-friday-8-september-2023-japan-growth-20230907/" target="_blank" rel="follow" data-article-link="true">Economic calendar in Asia Friday, 8 September 2023, Japan growth</a></li></ul>

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