Japan's household spending declined 2 percent from a year earlier in November 2019, following a 5.1 percent decline in the previous month. It was the second annual decline in spending in 2019, as consumers cut purchases after a sales tax hike in October and as a typhoon disrupted business. Spending declined for furniture & household utensils (-13.1 percent vs -16.3 percent); housing purchases (-4.1 percent vs -12.7 percent); education (-17.1 percent vs -15.9 percent); clothing & footwear (-6.8 percent vs -10.7 percent), and fuel, light & water charges (-1.5 percent vs -4.6 percent). In contrast, spending rose for recreation & culture (3.4 percent vs -5.1 percent); food (0.2 percent vs -3.9 percent), and medical care (6.0 percent vs -2.8 percent). On a monthly basis, household spending rebounded 2.6 percent after plummeting 11.5 percent. Household Spending in Japan averaged -0.61 percent from 2001 until 2020, reaching an all time high of 9.50 percent in September of 2019 and a record low of -10.60 percent in March of 2015. source: Ministry of Internal Affairs & Communications
Household Spending in Japan is expected to be 0.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Household Spending in Japan to stand at 2.00 in 12 months time. In the long-term, the Japan Household Spending is projected to trend around 2.00 percent in 2020, according to our econometric models.
Japan Household Spending
In Japan, household spending refers to the annual change of consumption expenditures (on food, housing, utilities, furniture, clothing, health, education, transport, communication, leisure activities, etc.) in real terms for two-or-more-person households including agricultural, forestry and fisheries households.