Japan Posts 2.3 Percent Rise in August Household Spending
(MENAFN) Japan’s real household spending rose by 2.3% in August compared to the same month a year earlier, extending its growth streak to a fourth consecutive month, according to figures released Tuesday by the Internal Affairs and Communications Ministry.
The increase was primarily fueled by a recovery in auto purchases and travel-related spending, the ministry data showed.
Households with two or more members spent an average of 313,977 yen (approximately 2,085 U.S. dollars) in August.
Leisure and cultural services saw a 13.0% surge in spending, driven by a sharp rebound in demand for domestic and international package tours after a downturn last year. Cultural facility spending soared 50.9%, while admissions for movies and theater performances jumped 30.3%, buoyed by crowd-pulling attractions like the Osaka-Kansai Expo and major film releases.
In contrast, food-related expenses dipped 1.2%, declining for the third month in a row. Rice purchases plummeted 28.9%, and spending on bread and noodles also dropped, a reversal following last year’s consumer stockpiling amid disaster preparedness concerns.
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