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MNI BRIEF: BOJ Consumption Index Posts 2nd Straight Drop

TOKYO (MNI)

The Bank of Japan's Consumption Activity Index fell 2.1% m/m in August, for the second straight dip after -0.1% in July, data released by the BOJ on Thursday showed.

Private consumption was strongly hit by a state of emergency in August to curb the spread of Covid-19, although figures were relatively solid in July. The data was consistent with the latest BOJ assessment that private consumption has been stagnant due to continuing strong downward pressure on services, such as eating and drinking as well as accommodations.

The BOJ's Consumption Activity Index is designed to forecast revised private consumption, not act as a preliminary estimate.

MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com

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