TOKYO—Japan’s household spending likely rose in November for the first time in four months while consumer inflation in Tokyo area is expected to have hit a 22-month-high in December, a Reuters poll showed. Low coronavirus cases have boosted consumption and the broader economy throughout the last quarter of 2021, but the recent spread of the new Omicron variant and increasing cost of goods have raised some concerns about Japan’s recovery this year. Household spending likely gained 1.6 percent in November from a year earlier, according to a median estimate of a Reuters poll of 16 economists. That would follow a 0.6 percent drop in October and mark the first rise since July. Month-on-month, household spending is expected to have increased 1.2 percent in November, following a 3.4 percent advance in October. “As new COVID-19 cases remained low, stay-at-home (mood) has been easing,” economists at SMBC Nikko Securities said. “Goods consumption …
Japan November Household Spending Set for First Rise in 4 Months, Omicron Poses Risks: Poll
January 4, 2022
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