Japan’s July Spending Rises 0.1%, Well Below 1.2% Forecast
Quick Overview Japanese household spending in July rose just 0.1% year-on-year, missing expectations; Inflation-adjusted wages grew, but consumers remain cautious about long-term wage stability; Consumers shifted spending towards non-essentials, cutting back on food and utilities; Weak consumer spending trends may challenge the Bank of Japan’s interest rate hikes; Japan’s cultural propensity for saving complicates efforts …
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