EconomyLens.com
No Result
View All Result
Tuesday, July 8, 2025
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
EconomyLens.com
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
No Result
View All Result
EconomyLens.com
No Result
View All Result
Home Economy

Japan household spending sees first rise in 14 months

David Peterson by David Peterson
June 6, 2024
in Economy
Reading Time: 5 mins read
A A
0
27
SHARES
338
VIEWS
Share on FacebookShare on Twitter

The Bank of Japan's long-standing, ultra-loose monetary policies are designed to banish stagnation and deflation from the world's number four economy. ©AFP

Tokyo (AFP) – Japan’s household spending rose in April for the first time in 14 months, official data showed Friday, as wages grow at the fastest pace in three decades.

Related

Trump says to set 50% copper tariff, no extension to August deadline

Trump says ‘no extensions’ to Aug 1 tariff deadline

Bulgaria becomes 21st member to adopt euro after EU green light

German exports to US tumble as Berlin urges quick trade deal

Major garment producer Bangladesh seeks deal after 35% US tariff

The figure was up 0.5 percent on-year with more money spent on education, clothes and transport, including cars, according to the internal affairs ministry.

Eyes are now on a decision next week by the Bank of Japan, which in March hiked interest rates for the first time since 2007 but indicated it would maintain its ultra-loose monetary policy.

Wage growth is a key part of the BoJ’s strategy as it targets demand-driven inflation of two percent — as opposed to prices rising on the back of unstable, temporary factors such as the war in Ukraine.

Although “wage growth is not keeping up with price increases, it’s expected that consumer spending will pick up as the employment and income environment improves”, government spokesman Yoshimasa Hayashi said Friday.

Japan’s largest business group Keidanren last month put the rate of wage increases among major companies at 5.58 percent — the first time it has topped five percent in 33 years.

While the United States and other major economies have battled sky-high inflation, price rises in Japan have been more moderate.

In April, the pace of Japanese inflation slowed to 2.2 percent as gas bills fell.

The BoJ’s long-standing, ultra-loose monetary policies are designed to banish stagnation and deflation from the world’s number-four economy.

But they have made the central bank an outlier among its global peers, which have aggressively increased borrowing costs to tackle sky-high inflation.

Masamichi Adachi and Go Kurihara at UBS said last month that in Japan, the “prospect of consumption looks rather good” as “nominal wage growth is expected to accelerate”.

While they do not expect another rate hike at the bank’s meeting next week, “we cannot rule out the possibility of the BoJ’s policy change to tightening direction in (the) next couple of months”.

“Without any policy change, public criticism of the Bank could heighten,” they added.

© 2024 AFP

Tags: household spendingJapanwage growth
Share11Tweet7Share2Pin2Send
Previous Post

Samsung workers in South Korea stage first strike: union

Next Post

Shadowy exotic pet trade thrives in Pacific island nation

David Peterson

David Peterson

Related Posts

Economy

Trump unveils first wave of steeper US tariffs in push for deals

July 7, 2025
Economy

Trump tariff threat clouds final day of BRICS summit

July 7, 2025
Economy

Trump says to slap allies Japan, South Korea with 25% tariffs

July 7, 2025
Economy

BRICS criticism brings Trump 10% tariff threat

July 7, 2025
Economy

Trump steps up pressure for deals as US tariff deadline nears

July 7, 2025
Economy

BRICS nations slam Trump tariffs, condemn strikes on Iran

July 7, 2025
Next Post

Shadowy exotic pet trade thrives in Pacific island nation

Asian markets swing as traders eye major US jobs report

Pakistan power crisis deepened by mountain tourism

Boeing Starliner crew aboard ISS after challenging docking

0 0 votes
Article Rating
Subscribe
Notify of
guest
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
  • Trending
  • Comments
  • Latest

New York ruling deals Trump business a major blow

September 30, 2024

Elon Musk’s X fights Australian watchdog over church stabbing posts

April 21, 2024

Women journalists bear the brunt of cyberbullying

April 22, 2024

France probes TotalEnergies over 2021 Mozambique attack

May 6, 2024

Ghanaian finance ministry warns against fallout from anti-LGBTQ law

74

New York ruling deals Trump business a major blow

72

Shady bleaching jabs fuel health fears, scams in W. Africa

71

Stock markets waver, oil prices edge up

65

US stocks mostly lower as Trump adds copper, pharma to tariff onslaught

July 8, 2025

Where do trade talks stand in the rush to avert higher US tariffs?

July 8, 2025

United Airlines to resume US service to Tel Aviv

July 8, 2025

Trump says to set 50% copper tariff, no extension to August deadline

July 8, 2025
EconomyLens Logo

We bring the world economy to you. Get the latest news and insights on the global economy, from trade and finance to technology and innovation.

Pages

  • Home
  • About Us
  • Privacy Policy
  • Contact Us

Categories

  • Business
  • Economy
  • Markets
  • Tech
  • Editorials

Network

  • Coolinarco.com
  • CasualSelf.com
  • Fit.CasualSelf.com
  • Sport.CasualSelf.com
  • SportBeep.com
  • MachinaSphere.com
  • MagnifyPost.com
  • TodayAiNews.com
  • VideosArena.com
© 2025 EconomyLens.com - Top economic news from around the world.
No Result
View All Result
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials

© 2024 EconomyLens.com - Top economic news from around the world.