Japanese household spending rose less than expected in July

The data from earlier is here:Japan data - July household spending +0.1% y/y (expected +1.2%)Consumer spending +0.1% in July y/y compared with the median market forecast for 1.2%month-on-month saw it slump 1.7% against the -0.2% expectedAdmittedly other data points are more encouraging for the Bank of Japan, notable wages from earlier this week:'Japanese rising real wages data keeps the BOJ on track for a Q4 interest rate hikeStill, the data today can;t be ignored. Reuters cite:"There is a very good chance that consumer spending will be negative again in the next month," said Takeshi Minami, chief economist at Norinchukin Research Institute, adding that households appear to be sceptical abou

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