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7th Oct 2025 10:30China+Daily Monitor
  • Japan’s real household spending continued to rise in August, despite falling real incomes.
  • Nominal wages took a hit, as bonuses plunged, notably in tourism-related sectors and manufacturing.
  • The BoJ will be looking for clues about 2026 wage growth, but is also wary of recent JPY weakness.

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Keywords for: 9 October 2025 China+ Monitor

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