The consumption rate is calculated as the consumption activity index (travel balance adjusted, real) divided by real employee income. Sources: Ministry of Health, Labour and Welfare, "Monthly Labour Survey"; Ministry of Internal Affairs and Communications, "Consumer Price Index," "Labour Force Survey"; Bank of Japan, "Consumption Activity Index."
└  2012  └  In my past speeches, I defined real employee income as the number of regular employees multiplied by real wages based on the Monthly Labour Survey.