Japan’s household expenditure in the previous month accelerated most in 2015 since the available jobs heightened to its fresh 43-year highs. This shows that as the labour market tightens, it helps push wages and consumer spending up in a gradual pace. Last week, the BOJ retained its monetary policy, however, pushed back again to reach its price goal, underlining the gap between the weak inflation and steady growth. And further emphasized that it may take some time to scale down its massive stimulus. The Japanese economy grew at an annualized 1.0 percent earlier this year, indicating a consecutive growth for the fifth time on strong exports and expansion in personal consumption. According to analysts, the domestic demand is the main driver for a sustained growth in net exports but would probably reduce growth in GDP for the second quarter. The positive signs for household consumption consist of 60 percent of the economy and gained 2.3 percent in the year until June, that jumped for the first time after 16 months and acquired the largest annual gain in August 2015. While the median estimate of the economists is 0.6 percent which is further based on the polled data of Reuters by the Ministry of Internal Affairs and Communications issued on Friday. Moreover, the retail sales gained 2.1 percent in the year to June as shown in another set of data.
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