Household spending in Japan plunged 7.6 percent in real terms in July from the previous year following a 1.2 percent drop in the previous month and compared to market expectations of a 3.7 percent decline. The sharpest contractions were observed in culture & recreation (-21%), clothing & footwear (-20.2 percent), transportation & communication (-19.6 percent), housing (-13.9 percent) and food (-2.6 percent). In contrast, expenditures in medical care climbed 4.2 percent. On a monthly basis, spending plummeted 6.5 percent following a 13 percent increase.
Household Spending in Japan averaged -0.80 percent from 2001 until 2020, reaching an all time high of 9.50 percent in September of 2019 and a record low of -16.20 percent in May of 2020. This page provides the latest reported value for - Japan Household Spending - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Japan Household Spending - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: Ministry of Internal Affairs & Communications
Household Spending in Japan is expected to be -3.50 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 1.70 in 12 months time. In the long-term, the Japan Household Spending is projected to trend around 2.00 percent in 2021, according to our econometric models.