GDP components · Japan
Japan Household Spending MoM
The Japan Household Spending MoM is one part of the national accounts of Japan: what households spend, what businesses invest, what they earn, or how productive workers are.
- Importance
- Medium
- Released
- Monthly
- Next release
- Currency
- JPY · Japanese yen
- Central bank
- The Bank of Japan
Latest figures
The latest release for AUG, published on 8 October 2026, came in at 0.1%, below the consensus of 0.5%, down from 0.5% the time before.
A weaker figure than expected points to slowing activity: the Japanese yen tends to soften and markets price in lower rates.
Over the last 12 releases it ranged from -6.4% to 6.2%, averaging -0.3%.
| Released | For | Actual | Consensus | Previous |
|---|---|---|---|---|
| 8 Oct 2026 | AUG | 0.1% | 0.5% | 0.5% |
| 3 Sep 2026 | JUL | 0.5% | 2.6% | -6.4% |
| 6 Aug 2026 | JUN | -6.4% | -3.1% | 3.7% |
| 6 Jul 2026 | MAY | 3.7% | 1.4% | 1.6% |
| 4 Jun 2026 | APR | 1.6% | 0.8% | -1.3% |
| 11 May 2026 | MAR | -1.3% | 0.6% | 1.5% |
| 6 Apr 2026 | FEB | 1.5% | 2.6% | -2.5% |
| 9 Mar 2026 | JAN | -2.5% | 0.8% | -2.2% ® |
| 5 Feb 2026 | DEC | -2.9% | -1.3% | 6.2% |
| 8 Jan 2026 | NOV | 6.2% | 2.7% | -3.5% |
| 4 Dec 2025 | OCT | -3.5% | 0.7% | -0.7% |
| 6 Nov 2025 | SEP | -0.7% | – | 0.6% |
Why it matters
GDP's headline hides its drivers. Household spending is usually the largest part of demand; investment is the most cyclical and tells you about firms' confidence; productivity and labour costs decide whether growth can continue without inflation.
How it is calculated
the Statistics Bureau and the Cabinet Office estimates each component from surveys, tax and trade data, after inflation where noted ("real").
What changes mean
- Strong spending with weak income growth cannot last: watch the savings rate.
- Productivity growth lets wages rise without pushing up prices; unit labour costs show the opposite.
Higher than expected: A stronger figure than expected points to a healthier economy: it usually supports the Japanese yen and local stocks, and can push bond yields up.
Lower than expected: A weaker figure than expected points to slowing activity: the Japanese yen tends to soften and markets price in lower rates.
A short history
The components follow the expenditure approach to GDP set out by Keynesian economics in the 1930s and standardised in the System of National Accounts.
Questions
What is the Japan Household Spending MoM?
The Japan Household Spending MoM is one part of the national accounts of Japan: what households spend, what businesses invest, what they earn, or how productive workers are.
What was the latest Japan Household Spending MoM?
0.1% for AUG, published on 8 October 2026 (consensus 0.5%, previous 0.5%).
When is the next Japan Household Spending MoM?
On Monday 9 November 2026 at 23:30 UTC.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.