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Consumption Activity Index

Private consumption makes up roughly 60 percent of total GDP. Therefore, a timely and precise assessment of the developments in private consumption is deemed important for making judgments on business cycles in the macroeconomy.

From this viewpoint, the Research and Statistics Department of the Bank of Japan provides research data titled "Consumption Activity Index (CAI)" on a regular basis. The CAI is compiled by using a variety of sales and supply-side statistics on goods and services as its source statistics and is provided as a measure for capturing short-term consumption activity on both monthly and quarterly bases. The CAI traces movements of consumption in the household side of the economy, much like those in the Annual Report on National Accounts (ARNA) -- which represents consumption activity in Japan in the most comprehensive manner -- but is made available in a more timely fashion. The CAI shows only small fluctuations emanating from samples rotations, and also exhibits a high correlation with a number of confidence survey measures.

Various series of the CAI -- such as nominal and real indexes, indexes with/without adjustments of travel balance, and a breakdown by type of goods/services -- are available to meet various analytical needs.

The data are, in principle, released at 2:00 p.m. on the fifth business day of each month; however, this release schedule is subject to change.

Details on the compilation methodology are available in the following research papers.

Research Data

Table : Research Data
Date Title Data
Jun.  7, 2022 Chart  [PDF 14KB]
Jun.  7, 2022 Data  [XLSX 49KB]

Explanation and Related Materials


Background Data

Background data used for compiling the CAI are made public in order to stimulate discussions and gather comments on the validity of the CAI from a wide range of users with interests in economic and financial developments, which in turn should facilitate to improve the CAI on an ongoing basis.

Seasonal Adjustment

Notices of Changes

Jun.  7, 2022
Revision of the Consumption Activity Index 
Jun.  5, 2020
Revision of the Consumption Activity Index 
May   1, 2020
Change in the Release Date of the Consumption Activity Index for March 2020 
Jul.  6, 2018
Revision to the Consumption Activity Index 
May  10, 2017
Revisions to the Consumption Activity Index 


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Economic Assessment and Projection Group,
Economic Research Division, Research and Statistics Department

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