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MNI DATA BRIEF: BOJ Consumption Index Posts 1st Rise In 3 Mths

(MNI) Tokyo
TOKYO (MNI)

The Bank of Japan's Consumption Activity Index rose 2.7% m/m in June, for the first rise in three months following -3.7% in May, data released by the BOJ Friday showed.

The index continued to show solid demand for durable goods but demand for services remained weak but was consistent with the latest BOJ assessment that private consumption has been stagnant due to strong downward pressure on areas such as dining and accommodations. Japan's real average household spending fell 3.2% m/m in June for the second straight drop following -2.1% in May.

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
Policy NewsAPACBank of Japan (BOJ) Market NewsJapanBriefStoryRegion
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MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
Policy NewsAPACBank of Japan (BOJ) Market NewsJapanBriefStoryRegion
True

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