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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI BRIEF: BOJ Consumption Activity Index Flat M/M In May
The Bank of Japan's Consumption Activity Index was unchanged in May following a 1.0% rise from March to April.
Services associated spending remained firm, but spending on non-durable goods fell as higher prices continued to squeeze consumers’ purchasing power.
Bank officials admitted that private consumption lacked strength as households faced high prices amid weak real wages, which fell y/y in April for the 25th straight month.
Real household spending fell 1.8% m/m in May, the first decline in two months following 0.5% in April, government data showed. Private consumption fell 0.7% q/q in Q1, the fourth straight quarterly drop, according to latest GDP data.
Sluggish private consumption is concerning officials who are considering raising the policy interest rate as early as July’s meeting.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.