Japanese wages data for May
Labour Cash Earnings +0.7% y/y (biggest rise in 10 months)
– % y/y expected 0.4% y/y, prior 0.5%
Real cash Earnings +0.1% y/y
– expected -0.1%, prior 0.0%
That ‘real’ figure is still very lacklustre – at least it’s a positive I suppose. The government (and BOJ) want wages to rise to help fuel consumption.