AI Data Insight

Real services spending by households of two or more people in Japan fell 1.4% year-on-year in the second quarter (April) of 2026, turning negative from 2.0% in the previous quarter. Although the decline in overall household consumption narrowed more than expected and wages rose, price pressures and the phasing out of energy subsidies have led people to continue "defensive consumption," which may add uncertainty to the recovery of Japan's domestic demand and the normalization of the central bank's monetary policy.

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