Japan: the decline in household spending slowed in August, down 3.1 per cent year-on-year

+0.1 per cent month-on-month

(Il Sole 24 Ore Radiocor) - In August, Japanese household spending fell by 3.1 per cent year-on-year, marking a slowdown compared with July’s decline (-3.6 per cent). This was reported by the Japanese Ministry of Internal Affairs and Communications. The figure exceeded market expectations, which had forecast a sharper decline in line with July’s figure. However, this marked the ninth consecutive month of year-on-year decline: consumers remained cautious due to persistent inflation, although the rate of contraction was the slowest since May.

On a month-on-month basis, Japanese household spending rose by 0.1 per cent in August.

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