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7th Jul 2025 08:49China+Daily Monitor

  • Japan’s wages took a big knock from a bonus plunge in May, as exporters’ profits were hurt by the tariff war.
  • The headline large-manufacturer Tankan was oddly steady in Q2, despite the tariff war.
  • Consumption still looks soft, despite one-off factors boosting May’s household spending data.

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independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence