Japan's household spending declined by 1.1% year-on-year in September, a smaller drop compared to the 1.9% fall in August and better than the anticipated 2.1% decrease.
Japan household spending falls in September
This marks the seventh consecutive month of lower household spending in 2024. Spending reductions were observed in various categories, including transportation and communication (-11.8%), housing (-3.4%), medical care (-2.6%), consumption expenditures (-1.1%), and furniture and household goods (-0.3%). However, certain areas saw increases, such as clothing and footwear (17.5%), fuel, light, and water charges (8.5%), education (8.8%), and other consumption items (0.3%). On a monthly basis, personal spending dropped by 1.3% in September, reversing the 2% rise recorded in August and falling short of the forecasted 0.7% decline.
