Japan's household spending seen rising for first time in 14 months: Reuters poll
TOKYO - Japan is expected to post its first year-on-year rise in household spending in 14 months, a Reuters poll showed on Friday, although the tepid growth is likely to highlight persistent weakness in the consumer sector.
On a seasonally-adjusted month-on-month basis, all household spending likely edged up 0.2% in April, slowing from a 1.2% increase in the previous month but posting a third straight monthly gain."Considering the underlying price hikes, we can only judge consumption shows no sign of putting the brakes on worsening," said Takeshi Minami, chief economist at Norinchukin Research Institute.
Weak private consumption is a source of concern among policymakers striving to achieve sustainable economic growth accompanied by solid wages and durable inflation, which are prerequisites for normalising of monetary policy. Japan's economy contracted 2% annualised in the first quarter as sharp yen declines pushed up costs and forced consumers to cut spending.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.
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