Japan data dump preview – Goldman Sachs

Analysts at Goldman Sachs offers a sneak peek on what to expect from the Japanese data dump due to be reported this Friday.

Key Quotes:

“We estimate the national core CPI (excluding fresh food) rose 0.4% yoy in May, up slightly from +0.3% in April (partly due to continued energy price rises), while the new national core CPI (excluding fresh food and energy prices) was unchanged from April, at 0.0%

We estimate production declined 3.0% in May (April: +4.0% mom), as consumer durable manufacturers were planning large production cuts for May

May retail sales are likely to have decelerated to +2.5% yoy growth (April: +3.2%) and real household spending to -1.5% yoy (April: -1.4%), partly due to unfavorable weather earlier in the month.”