Japan Household Spending Eases 0.1% On Year In December

The average of household spending in Japan dipped 0.1 percent on year in December, the Ministry of Internal Affairs and Communications said on Tuesday – coming in at 322,157 yen.

That was shy of expectations for an increase of 1.3 percent following the 1.7 percent gain in November.

The average of monthly income per household stood at 940,875 yen, up 0.4 percent on year.

The average of consumption expenditures per household was 352,076 yen, down an annual 0.5 percent.

Individually, spending was down for housing, education and communication.

Spending was higher for medical care, recreation, fuel and furniture.

Also on Tuesday:
• The unemployment rate in Japan came in at a seasonally adjusted 2.8 percent in December, the Ministry of Internal Affairs and Communications said – above expectations for 2.7 percent, which would have been unchanged.

The job-to-applicant ratio was 1.59, exceeding forecasts for 1.57 and up from 1.56 in the previous month.

The number of employed persons in December was 65.42 million, an increase of 520,000 or 0.8 percent on year. The number of unemployed persons in December was 1.74 million, a decrease of 190,000 or an annual 9.8 percent.

• Retail sales in Japan were up a seasonally adjusted 0.9 percent on month in December, the Ministry of Economy, Trade and Industry said – beating forecasts for a decline of 0.4 percent following the 1.8 percent gain in November.

On a yearly basis, retail sales jumped 3.6 percent – also exceeding expectations for 2.2 percent and up from 2.1 percent in the previous month.

Sales from large retailers advanced an annual 1.1 percent, beating forecasts for 0.5 percent and up from 1.4 percent a month earlier.

by RTT Staff Writer

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