— Japan Aug Household Spending +1.8% Y/Y; MNI Forecast +1.2%
— Japan Aug Household Spending Posts 7th Straight Y/Y Rise
TOKYO (MNI) – Japan’s average household spending in August marked a
seventh straight year-on-year rise, backed by government subsidies for
buying low-emission automobiles although their effects were waning, data
from the Ministry of Internal Affairs and Communications showed Friday.
Household spending stood at Y286,036 in August, up a real 1.8% from
a year earlier following a 1.7% rise in July.
The August reading was better than the median forecast for a 1.2%
increase in a MNI survey of economists.
In August, spending on transportation and communication, which
includes automobile purchases, rose 8.5% on the year after a 18.7% surge
in July, pushing up household spending by 1.14 percentage points.
In nominal terms, household spending increased 1.4% in August
following a 1.2% rise in July.
The average real income of salaried workers’ households rose 1.8%
to Y470,470 in August, marking the first rise in two months after a rare
2.2% drop in July.
Real disposable income in the average salaried workers’ household
increased 2.6% in August, also the first rise in two months, following a
4.0% drop in the previous month.
tokyo@marketnews.com
** MNI Tokyo Newsroom: 81-3-6860-4821 **
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