– Friday, Dec. 5
0830 JST (2350 GMT/1830 EST Thursday, Dec. 4) The Ministry of Internal Affairs and Communications releases the October average household spending.
Mace News survey median forecasts: +1.6% y/y (range: +0.3% to +2.2%) vs. Sept +1.8%; +0.8% m/m (range: -0.1% to +2.7%) vs. Sept -0.7%
By Chikafumi Hodo
TOKYO (MaceNews) – Japan’s real household spending is forecast to rise 1.6% on the year in October, marking a sixth straight month of year-on-year growth after a 1.8% rise in September, which was driven by higher spending on automobiles, medical services and donations.
On a month-on-month basis, household expenditure is expected to increase 0.8% in October, following a 0.7% decline in the previous month.
The uptrend in October spending is likely supported by stronger sales at department stores, convenience stores and supermarkets nationwide during the month.
In contrast, new passenger car registrations fell in October, after purchases of cars and related costs picked up in September. Spending on cultural and entertainment services may also have slowed with the conclusion of EXPO 2025 Osaka around mid-October.
Trends in household consumption and wages remain a key focus for the Bank of Japan as it assesses the timing of any potential monetary tightening.