The Reuters/U. Mich. consumer sentiment index rose to 63 in Aug. from the midmonth reading of 61.7 and July's 61.2 as gasoline prices fell. It was the best reading since March, but 90% of consumers believe the economy is in a recession. Japanese inflation rises to 2.3%Japan's consumer prices rose at the fastest clip in almost 11 years in July, led by higher energy and food prices. Core inflation, excluding energy and food, rose a modest 0.2%. Real consumer spending fell 0.5% year over year in July.
Industrial output in Japan rose 0.9% in July, beating expectations of -0.5%. Economists expect Japan to suffer a shallow recession. Canada's economy grows 0.3%
Canada skirted a recession with Q2's slight growth after Q1's 0.8% slide. Economists expected a 0.7% gain. The slow growth raised the chances the Bank of Canada will cut interest rates this week, though most economists predict the central bank will hold rates steady.
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