— Japan Apr Household Spending Real -3.0% Y/Y Vs Mar -8.5%
— Japan Apr Household Spending MNI Survey Median Forecast -2.8%
TOKYO (MNI) – Japan’s average household spending fell for a seventh
straight month in April, as the March 11 earthquake continued to weigh
on consumer confidence and prospects for job security, data from the
Ministry of Internal Affairs and Communications showed on Tuesday.
Household spending fell a real 3.0% to Y292,559 last month from a
year earlier following a record drop of -8.5% in March.
The fall in April was slightly larger than the median forecast for
a 2.8% drop in an MNI survey of economists.
In nominal terms, spending fell 2.5% in April following a 8.4% y/y
drop in March.
In April, real spending fell in seven out of the 10 categories:
food (-0.2% y/y), home repairs and maintenance (-7.2%), utilities
(-4.5%), transportation and communication including automobiles (-2.5%),
education (-11.3%), culture and recreation including holiday tours
(-3.6%) and other expenditures (-2.7%).
The average real income of salaried workers’ households fell 4.8%
from a year earlier in April to Y454,433, a second straight drop
following the 4.1% decline in March. Nominal income fell 4.3% in April
after the 4.0% drop in the previous month.
Real disposable income in the average salaried workers’ household
fell 2.8% in April from a year before to Y375,329, also a second
straight fall, following -3.2% in March. It fell 2.3% in nominal terms
in April following -3.1% in March.
tokyo@marketnews.com
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