Japan data - April wages +1.7% y/y & April household spending -1.7% y/y

The wages data for April:

Average Cash Earnings +1.7% y/y

• forecast was 1.5%, prior 1.2%

Real wages (i.e. after inflation) -1.2% y/y

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Household Spending data

-1.7% y/y

• expected -0.6%, prior -2.3%

For the m/m, +1.0% (prior +4.1%)

more to come