Japan Personal Spending Unexpectedly Rise

2026-01-08 23:35 By Farida Husna 1 min. read

Household spending in Japan increased 2.9% yoy in November 2025, defying market expectations for a 0.9% decline and reversing a 3.0% drop in the previous month.

It marked the steepest rise since May, supported by higher winter-related purchases and easing inflation pressures on some essential goods.

Spending bounced back across several major categories, led by food (0.9% vs -1.1% in October), furniture and household items (10.6% vs -0.3%), transportation and communication (20.4% vs -9.2%), and culture and recreation (2.2% vs -0.6%).

At the same time, growth accelerated in clothing and footwear (7.5% vs 6.3%) and education (10.2% vs 7.6%).

Elsewhere, declines moderated in housing (-1.8% vs -9.1%) and fuel, light, and water charges (-1.2% vs -3.2%), while spending on medical care softened slightly (2.6% vs 3.6%).

On a monthly basis, personal spending jumped 6.2%, easily beating forecasts of 2.7% and swinging from a 3.5% contraction in October.



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Japan Personal Spending Unexpectedly Rise
Household spending in Japan increased 2.9% yoy in November 2025, defying market expectations for a 0.9% decline and reversing a 3.0% drop in the previous month. It marked the steepest rise since May, supported by higher winter-related purchases and easing inflation pressures on some essential goods. Spending bounced back across several major categories, led by food (0.9% vs -1.1% in October), furniture and household items (10.6% vs -0.3%), transportation and communication (20.4% vs -9.2%), and culture and recreation (2.2% vs -0.6%). At the same time, growth accelerated in clothing and footwear (7.5% vs 6.3%) and education (10.2% vs 7.6%). Elsewhere, declines moderated in housing (-1.8% vs -9.1%) and fuel, light, and water charges (-1.2% vs -3.2%), while spending on medical care softened slightly (2.6% vs 3.6%). On a monthly basis, personal spending jumped 6.2%, easily beating forecasts of 2.7% and swinging from a 3.5% contraction in October.
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Household spending in Japan fell 3.0% yoy in October 2025, missing market expectations for a 1.0% rise and reversing a 1.8% gain in the prior month. It marked the first decline since April and the steepest pace since January 2024, underscoring persistent cost pressures heading into year-end. The Internal Affairs Ministry pointed to softer household spending on food, entertainment, and automobiles as the main drivers of the decline. Officials stressed that it is too early to determine if the weakness is transitory, emphasizing that consumption overall remains in a recovery stage. On a monthly basis, personal spending fell 3.5%, against consensus of a 0.7% increase and after a 0.7% decrease in September.
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