Business · Economy · 18 hrs ago
Japan's July-September GDP forecast points to weaker consumer spending
Japan will publish its preliminary July-September GDP figures on November 16.
Private forecasts mostly expect consumer spending to have fallen from the previous quarter.
They point to weaker demand for cars and other durable goods after earlier strength.
High prices have encouraged households to spend cautiously, while poor weather may also have reduced spending.
Real wages have been rising, but consumer spending has still lacked strength.
The figures will show whether household spending weakened and how it affected Japan's economic growth.
Private-sector forecasts indicate that Japan’s personal consumption may have fallen in July-September.
Many forecasts cite weaker demand for durable goods, especially cars, as well as high prices and unsettled weather.
The GDP preliminary estimate for the quarter is due to be announced on November 16.
Consumption has remained weak despite real wages staying in positive territory.
- Who
- Japanese consumers and the economy.
- What
- Private-sector forecasts point to a decline in personal consumption in July-September.
- When
- July-September; the preliminary GDP estimate is due on November 16.
- Where
- Japan.
- Why
- Forecasts cite a reaction after strong demand for durable goods, especially cars, along with high prices encouraging thrift and unsettled weather.
This story does not have two clearly opposing sides.
This story does not have a timeline yet.
- Forecast period
- July-September
- GDP estimate
- Preliminary figure due November 16
- Consumption outlook
- Many private forecasts expect a decline from the previous quarter
- Factors cited
- Durable-goods demand, high prices and unsettled weather