Japan Household Spending Falls 3.6% in July, Extending Eight-Month Decline

Real household outlays fell for an eighth straight month, with transport, housing and utilities among the biggest drags despite a 0.5% monthly rebound.

Real household outlays fell for an eighth straight month, with transport, housing and utilities among the biggest drags despite a 0.5% monthly rebound.

Filled jobs increased by 110,700 in the June quarter, while the multiple job-holding rate reached a record 6.9% as secondary work grew much faster than main jobs.

The ISM Services PMI rose to 55.4 in August as business activity and new orders strengthened, but the prices index climbed to 72.6 and employment contracted for a second month.

Christopher Waller said continued disinflation could support keeping the federal funds rate unchanged in September, while a hotter August inflation reading could revive the case for a hike.

July imports rose to $399.3 billion while exports fell to $310.7 billion, with a sharp increase in capital-goods imports driving much of the monthly swing.

New U.S. jobless claims rose modestly to 206,000 last week, leaving layoffs subdued ahead of Friday’s closely watched monthly payrolls report.

The revision reflected a lower estimate for hourly compensation, while manufacturing productivity was raised to 2.4% and manufacturing unit labor costs turned negative.

The auction drew ₹3,109.305 crore of offers across four short-dated government securities, but none were accepted under the ₹30,000 crore buyback.

Canada’s goods trade surplus narrowed sharply in July as exports to the United States fell 6.6%, offsetting record shipments to other markets.

Australia’s July goods surplus slipped to A$1.92 billion as a sharp fall in non-monetary gold exports outweighed gains in rural goods and LNG.