Japan – Nov Household Spending
11/01/2019 11:09 am MYT
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On a month-on-month basis, nominal and real monthly expenditures for two-or-more-person households in Nov rose by 1.1%. On a year-on-year basis, nominal household spending rose slightly by 0.4%, while real household spending slipped by 0.6%. Meanwhile, year-on-year nominal and real worker households’ spending fell by 0.5 % and 1.5 % respectively. The average propensity to consume for workers’ households rose slightly from 70.0% in Oct to 70.6% in Nov, albeit remaining at a low level – see figure 1. Given consumers’ weak willingness to spend, household spending should stay weak in the coming months.

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Even four months after the Covid-19 pandemic broke out, scientists still do not fully understand the mysterious coronavirus - hence, no cure is in sight. Although an increasing number of countries are relaxing restrictions and reopening their economies, with the threat of the SARS-CoV-2 virus still grave and present, most businesses cannot operate normally and some remain closed. As a result, the retrenchment wave has started, with the SME Association of Malaysia reporting that some companies have already retrenched a third of their staff, with more retrenchments on the way. Meanwhile, the Malaysian Employers Federation, the country’s biggest federation of employers, warned that more than 2 mln people may lose their jobs after Raya.

These are scary numbers with serious repercussions. How does one manoeuvre during this very challenging time? Capital Dynamics invites you to join Tan Teng Boo and team in a lively online discussion on 30 May. Please visit https://specialwebinar.icapital.biz/ to find out how you can participate.
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