Japan consumption index falls for 1st half of Feb.

New data shows that Japan's state of emergency to curb the coronavirus continues to weigh on consumption. Travel and dining out have been hit especially hard.

Credit card company JCB and research firm Nowcast analyzed customer transactions for the first half of February. Their consumption index dropped 18.3 percent compared to the same period last year.

Spending on travel plunged 64.8 percent, and dropped 53.2 percent on accommodation. Meanwhile dining expenditure fell by 47.9 percent amid shorter opening hours at bars and restaurants.

There was one bright spot in the latest reading. The pace of decline for both travel and accommodation spending slowed compared to the latter half of January.

Source: https://www3.nhk.or.jp/nhkworld/en/news/20210301_15/