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Japan Aug Household Spending Drops 6.9% Y/Y

JAPAN DATA
MNI (Singapore)
  • Average monthly pending by Japanese households with two or more people dropped 6.9% y/y in August, following the previous month's 7.6% fall, marking the 11th monthly decrease.
  • Spending on food dipped a further 3.9% y/y, after the previous 2.6% y/y fall, but spending on fuel, lighting and water rose 6.2% y/y, up from the 2.9% y/y gain in July.
  • The average real income of households with salaried workers rose 1.2% y/y, slower than the 9.2% y/y reported last month.
  • Household spending increased 1.7% on a monthly basis in August, compared with the previous month's 6.5% m/m decline.
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