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October 06, 2023
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Japan Cash Earnings 1.0% y-o-y (consensus 1.5%) in Aug-23

- Japan Cash Earnings experienced a 1.0% year-on-year growth in August 2023, the highest increase since June 2023, but far less than the 1.5% consensus expectation.
- Despite the growth, cash earnings in August were still 0.96 percentage points below the one-year average, indicating a slower recovery and persistent challenges in the economy.

September 28, 2023
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Japan retail sales 7.0% y-o-y (consensus 6.6) in Aug-23


- Japan's retail sales grew by 7.0% y-o-y in August 2023, surpassing market expectations and indicating a positive trend in the sector.
- The growth rate of 7.0% is 1.57 pp above the one-year average and 5.55 pp above the long-run average, suggesting robust performance compared to historical trends.

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