KONTAN.CO.ID - TOKYO. Japan's household spending fell for the fifth straight month in June but real wages rose at their fastest pace in more than 21 years thanks to higher summer bonuses, which could provide some support for consumer prices. Household income also marked the fastest gain in three years on gains in temporary workers' pay, offering some hope for Bank of Japan policymakers struggling to accelerate inflation to their elusive 2 percent target. The figures come ahead of Friday's release of second-quarter gross domestic product (GDP) data, which will likely show the economy expanded an annualised 1.4 percent after contracting in the previous quarter.
Japan household spending falls but wage growth hits 21-year high
KONTAN.CO.ID - TOKYO. Japan's household spending fell for the fifth straight month in June but real wages rose at their fastest pace in more than 21 years thanks to higher summer bonuses, which could provide some support for consumer prices. Household income also marked the fastest gain in three years on gains in temporary workers' pay, offering some hope for Bank of Japan policymakers struggling to accelerate inflation to their elusive 2 percent target. The figures come ahead of Friday's release of second-quarter gross domestic product (GDP) data, which will likely show the economy expanded an annualised 1.4 percent after contracting in the previous quarter.