Japan's July Household Spending Beats Forecasts

By Michael Kitchen

Published August 30, 2012

MarketWatch Pulse

LOS ANGELES ? ?Japan's consumer spending was stronger than expected in July, and the unemployment rate held steady, but consumer prices deflated further, according to data released Friday. Spending by households of two of more people rose a price-adjusted 1.7% from a year earlier, the Statistics Bureau said, with the result beating expectations for a 1.0% rise, according to a Dow Jones Newswires poll of economists. The July unemployment rate printed at 4.3%, unchanged from June, while the core consumer price index -- which strips out volatile fresh-food prices -- fell 0.3%, with both results matching forecasts. The Japanese yen rose after the data release, with the dollar buying ?78.52, down from ?78.65 earlier.

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