Japanese Household Consumption

by Eduardo Petazze
In Apr14, the monthly average consumption expenditures per (two-or-more-person) household was
302,141 yen, -0.7% Y/Y in nominal terms and -4.6% Y/Y in real term
In 2013 Japanese household consumption, excluding imputed rent, accounted 49.97% of nominal GDP
The Statistics Bureau of Japan released its monthly Family Income and Expenditure Survey.

Index of Consumption Expenditure Level

Quarter
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
2014Q1
2014Q2
2014Q3
2014Q4

Month
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Aug-14
Sep-14

Consumption Expenditure (1)

NSA
Y/Y
SA
Q/Q
98.6
0.1%
97.8
-0.9%
99.1
2.8%
99.9
2.1%
95.9
0.9%
98.7
-1.2%
101.4
-0.2%
98.5
-0.2%
102.6
4.1%
101.8
3.4%
99.1
0.0%
99.8
-2.0%
96.8
0.9%
99.6
-0.2%
102.2
0.8%
99.4
-0.2%
105.1
2.4%
104.1
4.7%
96.8
-2.3%
97.7
-6.1%
96.3
-0.6%
99.1
1.4%
102.1
-0.1%
99.3
0.2%

Consumption Expenditure (2)

NSA
Y/Y
SA
Q/Q
97.9
0.2%
97.0
-1.1%
98.3
2.3%
99.1
2.2%
96.4
1.0%
98.7
-0.4%
101.7
1.5%
99.5
0.8%
103.6
5.8%
102.6
3.1%
99.3
1.0%
100.1
-2.4%
96.9
0.5%
99.2
-0.9%
100.3
-1.4%
98.1
-1.1%
105.4
1.7%
104.2
6.3%
95.0
-4.4%
95.9
-8.0%
94.3
-2.7%
96.5
0.7%
97.0
-3.3%
95.0
-1.6%

Own estimate
Consumption Expenditure (1)
Consumption Expenditure (2)
NSA
Y/Y
SA
M/M
NSA
Y/Y
SA
M/M
98.5
2.4%
99.8
1.3%
99.5
4.0%
100.5
0.1%
101.4
4.4%
101.8
2.0%
102.7
6.2%
103.0
2.5%
107.9
5.3%
103.8
2.0%
108.7
7.2%
104.3
1.3%
106.9
1.6%
101.0
-2.7%
108.5
0.9%
100.8
-3.4%
95.8
-1.5%
99.6
-1.4%
94.9
1.3%
99.9
-0.9%
94.5
-0.3%
98.9
-0.7%
94.5
1.0%
99.7
-0.2%
96.8
0.2%
99.5
0.6%
95.3
-1.8%
97.5
-2.2%
96.0
-1.4%
98.1
-1.4%
95.8
-0.5%
97.8
0.3%
97.5
4.1%
101.1
3.1%
99.6
4.0%
102.3
4.6%
97.6
1.0%
99.7
-1.4%
96.7
-0.6%
98.2
-4.0%
96.9
0.3%
98.9
-0.8%
95.0
-1.3%
97.9
-0.3%
112.2
1.1%
99.7
0.8%
109.3
-2.1%
98.3
0.4%
100.0
1.5%
101.3
1.6%
99.6
0.1%
100.6
2.3%
99.3
-2.1%
99.6
-1.7%
99.5
-3.1%
99.8
-0.8%
115.9
7.4%
111.4
11.8%
117.0
7.6%
112.3
12.5%
102.1
-4.5%
96.5 -13.4%
101.1
-6.8%
93.9 -16.4%
94.3
-1.6%
98.2
1.7%
91.7
-3.4%
96.5
2.8%
94.2
-0.3%
98.5
0.4%
92.1
-2.5%
97.2
0.8%
96.3
-0.6%
99.1
0.5%
94.1
-1.3%
96.2
-1.1%
96.4
0.4%
98.6
-0.5%
93.8
-2.1%
95.7
-0.5%
96.1
-1.4%
99.8
1.3%
94.9
-4.7%
97.6
2.0%
(1) 2-or-more-person Households
(2) Workers' Households
Last data

Estimated Household Consumption (less imputed rents) in current yen

Year
2006
2007
2008
2009
2010
2011
2012
2013
2014
Own estimate
Quarter
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
2014Q1
2014Q2
2014Q3
2014Q4
Last data

Japanese Nominal Consumption Expenditure

Consumption Households less imputed rent Bn Yen
NSA
Y/Y
SA
Q/Q
241,342.8
0.68%
241,338.9
0.67%
241,924.3
0.24%
241,862.2
0.22%
239,767.5
-0.89%
239,805.9
-0.85%
230,495.6
-3.87%
230,473.8
-3.89%
233,115.0
1.14%
233,120.8
1.15%
231,151.7
-0.84%
231,131.8
-0.85%
234,188.3
1.31%
234,261.9
1.35%
238,957.3
2.04%
238,971.8
2.01%
238,098.1
-0.36%
238,098.1
-0.37%
Consumption Households less
NSA
Y/Y
58,298.7
3.56%
57,716.0
2.60%
58,203.5
-0.52%
59,970.1
-0.21%
58,538.2
0.41%
58,439.0
1.25%
60,013.5
3.11%
61,966.6
3.33%
61,420.7
4.92%
56,722.2
-2.94%
59,162.6
-1.42%
60,792.5
-1.89%

imputed rent Bn Yen

SA
Q/Q
235,784.2
0.68%
235,394.6
-0.17%
231,984.0
-1.45%
233,884.9
0.82%
236,559.4
1.14%
238,140.5
0.67%
239,461.2
0.55%
241,725.9
0.95%
247,704.6
2.47%
231,649.8
-6.48%
235,989.5
1.87%
237,048.4
0.45%

Own estimate

Consumer price index

CPI-Japan Mar14 +1.6% Y/Y (0.3% M/M) CPI-Tokyo Apr14 +2.9% Y/Y (2.0% M/M)

Also see:
Unemployed persons in Apr14 was 2.54 million, -370K or -12.7% Y/Y
Japan GDP 1Q2014
BoJ
May 2013 Report: Recent Economic and Financial Developments pdf, 65 pages
Summary pdf, 3 pages