Japan year-on-year household spending drops for 8 straight months
Japanese household spending declined for eight consecutive months in July, falling more than anticipated, according to government data released on Friday. The year-on-year decrease amounted to 3.6 percent, surpassing market expectations of a 1.6 percent reduction. On a month-to-month basis, adjusted for seasonal variations, spending slightly increased by 0.5 percent, falling short of the predicted 2.6 percent rise.
The decline in household spending is expected to be one of the factors the Bank of Japan considers when determining whether to raise interest rates as early as this month.
Written by urgent.news from CNA - Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Yen soars as Bank of Japan tipped to raise interest rates theguardian.com
- Yen rallies sharply as markets raise bets on Bank of Japan rate hikes nst.com.my
- World Bank commends BoG for Cedi’s turnaround and exchange rate stability 3news.com
- Japan's household spending in July drops 3.6% on year mainichi.jp
- Yen rallies sharply as markets raise bets on Bank of Japan rate hikes; US dollar drops businesstimes.com.sg
- Japan household spending drops for eighth straight month in July investing.com
- Japan year-on-year household spending drops for 8 straight months channelnewsasia.com
