Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
The Bank of Japan's Consumption Activity Index rose 1.2% m/m in March, for the second straight rise following +0.9% in February, data released by the BOJ Wednesday showed. However, the index fell 1.6% q/q in Q1, a first drop in three quarters following +2.6% in the fourth quarter of 2020, and a reminder that private consumption will weigh on the Jan-Mar GDP reading.
The March gain confirmed demand for durable goods was solid in line with BOJ expectations, although face-to-face services were weak. The BOJ assessment was "a pick-up in private consumption has paused recently due to increased downward pressure on consumption of services, such as eating and drinking as well as accommodation."
Japan's real average household spending fell 1.8% q/q in Q1, marking a third straight decline, the government data showed.
The BOJ's Consumption Activity Index is designed to forecast revised private consumption, not act as a preliminary estimate.
Source: Bank of Japan
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.