Health
Japan Household Outlays Fall Most Since Pandemic
Key Points
Japan Household Outlays Fall Most Since Pandemic Japan’s household spending fell by the most since 2020, highlighting persistent weakness in consumption, even as the Bank of Japan grows more confident that inflation has become entrenched enough to warrant further interest-rate increases. Outlays by households adjusted for inflation declined 6.8% in September from a year earlier, the Ministry of Internal Affairs and Communications reported Tuesday.
Japan Household Outlays Fall Most Since Pandemic
Japan’s household spending fell by the most since 2020, highlighting persistent weakness in consumption, even as the Bank of Japan grows more confident that inflation has become entrenched enough to warrant further interest-rate increases.
Outlays by households adjusted for inflation declined 6.8% in September from a year earlier, the Ministry of Internal Affairs and Communications reported Tuesday. Economists had forecast a 3% drop. Spending fell 2.8% from the previous month on a seasonally adjusted basis.