— See Separate Table For Details of Individual Forecasts
TOKYO (MNI) – Japanese real average household spending in September
is expected to have declined 3.3% from a year earlier, posting a seventh
straight year-on-year drop after -4.1% in August, due mainly to stormy
weather conditions, according to the median forecast of analysts
surveyed by Market News International.
The Ministry of Internal Affairs and Communications will release
the September data at 0830 JST on Friday, Oct. 28 (2330 GMT Thursday).
Department store sales in Japan fell 2.4% in September from a year
earlier, posting the third straight y/y drop, industry data showed. Two
major typhoons wreaked havoc in many parts of Japan and relatively high
temperatures during the first 20 days of the month hurt sales of autumn
clothing.
Spending on “culture and recreation” that includes flat-screen TVs
and other durable goods is expected to have slumped again in September.
Many households had rushed to buy digital TVs before July 24, when Japan
terminated analogue broadcasting services.
Television shipments plunged 47.9% on year in September, marking
the second consecutive y/y drop after -26.2% in August and +64.8% in
July, the Electronics and Information Technology Industries Association
reported.
On a seasonally adjusted basis, consumption in September is
expected to have fallen 0.4% on the month, which would be a second
straight m/m drop after -0.1% in August, the MNI survey showed.
skodama@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4838 **
[TOPICS: M$J$$$,M$A$$$,MAJDS$]
