Japan Overall Household Spending for May: -3.9% y/y(expected -1.5%)

Japan Overall Household Spending for May comes in at -3.9% y/y … disappointing misses on this data point are not an irregular occurrence

• expected -1.5% y/y, prior -1.3%

Background here:

• Here is what's on the economic calendar in Asia today

But TL;DR version is:

Earlier data showed

• new car sales down,
• department store sales fell,
• and household sentiment weak in the May Economy Watchers Survey

And …. chickens home to roost - a poor result ….