Japan data: Oct Wages +1.5% y/y (prior +1.2%), Household spending -2.5% y/y (expected -3%)

Real wages continue to fall with the surge 9for Japan) in inflation rates.

• October real wages -2.3% y/y
• the 19th consecutive month of decline

Household spending m/m fel 0.1% (expected -0.2%). The y/y result is in the screenshot below, also not as big a fall as expected. "Not as bad as expected" remains largely applicable to Japanese economic data.