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06.09.2019 14:30

Japan’s household spending increases less than expected in July

Japan’s household spending increases less than expected in July

The Ministry of Internal Affairs and Communications announced on Friday that the Japanese household spending increased 0.8 percent y-o-y in July, following a 2.7 percent y-o-y surge in June.

Economists had expected household spending to rise 1.1 percent m-o-m in July.

Individually, spending increased for medical care (+8.5 percent y-o-y), housing (+6.3 percent y-o-y), education (+3.8 percent y-o-y), transportation and communication (+2.0 percent y-o-y) and culture & recreation (+2.0 percent y-o-y), but reduced for furniture & household utensils (-7.5 percent y-o-y), utilities (-3.4 percent y-o-y), apparel (-3.4 percent y-o-y), and food (-0.5 percent y-o-y).

In m-o-m terms, household spending fell 0.9 percent in July after a 2.8 percent drop in June.


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