Japanese unemployment stays at 3.2% - Rabobank

Michael Every, Head of Financial Markets Research at Rabobank, notes that the today has seen Japanese unemployment stay at 3.2% - not that this means any wage pressures, of course.

Key Quotes

“Meanwhile, real household spending in April beat expectations at -0.4% y-o-y (showing how low expectations are), while industrial production was also better at 0.3% m-o-m.

Australia saw another slice of Q1 GDP in net exports (up 1.1 vs. 0.7 consensus), the Q1 current account (-AUD20.8bn), and building approvals, (+3.0% instead of falling the same).”