— Japan Jan Spending -2.3% Y/Y; MNI Median Forecast -0.9%
TOKYO (MNI) – Japan’s average household spending fell back in
January as lower expenditures on high school tuitions, medical services
and automobile purchases reflected generally sluggish consumer spending,
the Ministry of Internal Affairs and Communications showed Friday.
Household spending stood at a real Y283,118 in January, down 2.3%
from a year earlier, marking the first fall in two months following
+0.5% in December, which was the first year-on-year rise in 10 months.
The January reading was worse than the median forecast of a 0.9%
dip in a Market News International survey of economists.
In January, outlays on educational services, including high school
and tuitions, fell 7.5% in real terms while spending on transportation
and communication, including auto purchases, dropped 5.5%. Spending on
medial services tumbled 8.7%.
In nominal terms, household spending fell 2.1% y/y in January.
The average real income of salaried workers’ households rose 2.4%
from a year earlier in January to Y430,485, the first increase in six
months.
Real disposable income in the average salaried workers’ household
increased 1.3% in January from a year before to Y355,793, also the first
rise in six months.
tokyo@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4835 **
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