Free Trial

What Recession?


Eurodollar/SOFR/ Tsy Options Roundup


Corporate Issuance Over $60B/Wk

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
MNI (London)
     TOKYO (MNI) - The Bank of Japan's Consumption Activity Index posted the
first month-on-month drop in three months, down 7.4% on a seasonally adjusted
basis in October, data released Friday showed. 
     The fall came after upwardly revised gain of 3.8% in September and a
downwardly revised rise of 2.5% in August.
     Private consumption was hit hard by a post-tax hike drop and a string of
natural disasters in October that slowed demand.
     The October index fell 4.3% on quarter, reversing the 0.8% gain in the Q3
and +0.7% in Q2.
     The BOJ will likely lower its assessment of private consumption at its
two-day policy-setting meeting on Dec. 18-19 in the wake of the weak index in
addition to other weak spending data.
     The latest assessment was "private consumption has been increasing
moderately, albeit with fluctuations, against the background of steady
improvement in the employment and income situation."
     However, its unlikely the BOJ will change its view of the underlying
economy trend, as bank officials are focused on how private consumption evolves
in Q1.
     The BOJ's Consumption Activity Index looks to forecast revised private
consumption and is not a preliminary estimate.
--MNI Tokyo Bureau; tel: +81 90-2175-0040; email:
--MNI London Bureau; tel: +44 203-586-2225; email:
[TOPICS: MAJDS$,M$A$$$,M$J$$$]
MNI London Bureau | +44 203-865-3812 |
MNI London Bureau | +44 203-865-3812 |

To read the full story

Why Subscribe to

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.