Yes they did
NAB Morning Call
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The Bank of Japan's Slowdown in April
Household spending down 4.4% year on year in April from a 1.9% drop the month before and cash earnings have gone up just 1%. Is this Japanese people being very obliging and they're cutting back on their spending because they want to keep inflation in check? Yeah, so the spending numbers do kind of, I guess, reflect some of that squeeze from real income pressures. Still early days, but certainly a disappointing start for that wages outcome.
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