Japan's August household spending picks up
Economy may avoid a technical recession, but corporate inflation expectations show decline
Tokyo
JAPAN'S household spending rose in August for the first time in three months and the availability of jobs improved to its best in more than two decades, which could temper concerns that the economy has fallen into a recession.
The 2.9 per cent annual increase in household spending in August amply exceeded the median estimate for a 0.4 per cent year-on-year rise and followed a 0.2 per cent annual decline in July as more consumers bought cars.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Philippines central bank not seeing rate hike despite peso weakness: finmin
Middle East tensions threaten global progress on inflation: World Bank
Heatstroke kills 30 in Thailand this year as South-east Asia bakes
Thailand to appoint former energy executive Pichai as finance minister, sources say
Consumer gulf widens as demand for premium and budget foods grows
‘To the Future’: Saudi Arabia spends big to become an AI superpower