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Japanese survey points to only modest capex growth

Chris Scicluna
Emily Nicol
  • Japan vehicle sales and final manufacturing PMIs continue to flag ongoing challenges 
  • German retail sales plummet at start of Q2
  • UK shop price inflation at highest in more than a decade

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Japanese data very much a mixed bag

Chris Scicluna
Emily Nicol
  • Japanese retail sales maintain recovery, labour market tightens, but IP still soft amid supply difficulties
  • China’s PMIs consistent with much softer pace of contraction in May
  • French inflation up as expected to highest since mid-80s, while GDP contracted in Q1

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Risk-on start to the week aided by Chinese Covid news

Chris Scicluna
Emily Nicol
  • German states suggest that flash May inflation data will report another significant rise

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Tokyo CPI remains boosted by high food and energy prices

Chris Scicluna
Emily Nicol
  • Spanish retail sales rebound

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French consumer confidence lowest since 2014

Chris Scicluna
Emily Nicol
  • German consumer confidence signals subdued household spending in Q2
  • German Q1 GDP growth unrevised at 0.2%Q/Q, underpinned by solid construction investment

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