MNI 5 THINGS: Japan Nov Household Spending Drops for 3rd Month

--Household Spending -0.6% Y/y; Meets Forecast 

--Household Spending +1.1% M/m Vs. Oct +1.8% 

     TOKYO (MNI) - Here are five major takeaways from the Family Income and

Expenditure Survey on Household for the month of November released by the

Ministry of Internal Affairs and Communications on Friday.

     --Spending by households with two or more people fell 0.6% y/y after

adjusting for two survey methods, meeting forecast by an MNI survey. It followed

a decline of 0.3% in October. 

     --The ministry said household spending "is picking up, but marking time,"

or somewhat stalled. Previously, the government described its view on the

outlook as "picking up."

     --October's drop was led by a reduction in expenditure on furniture and

household items, which fell 10.0% y/y. Spending on medical care also shrunk by

5.2% y/y, the second-largest drop.

     --Household spending slowed to 1.1% on a monthly basis from 1.8% gain in

October. 

     --The average real income of households with salaried workers climbed 0.1%

y/y from October's -2.9%, the first increase in the last four months. 

--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com

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