Japan data - June Household Spending +3.5% y/y & Labour Cash Earnings +2.2% y/y

A couple of data points from Japan for June 2022 out this morning.

Household Spending +3.5% y/y

• vs expected 1.5% & prior -0.5%
• for the m/m +1.5% (expected +0.2%, prior -1.9%)

Labour Cash Earnings +2.2% y/y

• vs. expected 1.9%, prior 1.0%

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Some encouragement for the Bank of Japan and the government in these numbers.