【环球财经】日本实际家庭消费连续2个月环比下滑

Core Viewpoint - Japan's household consumption is experiencing a significant decline due to rising prices outpacing income growth, leading to a drop in real consumption for two consecutive months [1] Group 1: Consumption Data - In October, the average monthly consumption expenditure for households with two or more members was 306,900 yen (approximately 1,980 USD), showing a nominal year-on-year increase of 0.3% [1] - However, after adjusting for inflation, real consumption unexpectedly dropped by 3% year-on-year, which was much worse than the industry expectation of a 1% increase [1] - On a month-on-month basis, the adjusted real consumption decreased by 3.5%, indicating a further widening of the decline [1] Group 2: Spending Categories - Among ten major consumption categories, seven, including food, housing, utilities, and transportation, saw a year-on-year decrease in spending [1] - Conversely, spending on education, healthcare, and clothing increased [1] - The most significant factor contributing to the decline in monthly consumption was a 9.3% year-on-year drop in automobile spending, as consumers shifted towards purchasing microcars and used cars [1] Group 3: Trends and Projections - Mobile communication fees have also been on a downward trend, decreasing year-on-year for four consecutive months as users switch to lower-priced plans [1] - Data from the Ministry of Internal Affairs and Communications indicates that Japan's real average monthly household consumption has been declining for two consecutive years in 2023 and 2024 [1] - Experts suggest that with ongoing price increases and declining real wages, it is challenging to expect an increase in real consumption [1]