Financial News: Japan Household Spending Sinks 1.3% On Year In

Japan Household Spending Sinks 1.3% On Year In December

02/06/2023 - 18:37:00 (RTTNews)

(RTTNews) - The average of household spending in Japan was down 1.3 percent on year in December, the Ministry of Internal Affairs and Communications said on Tuesday.

That missed forecasts for a decline of 0.,2 percent following the 1.2 percent annual drop in November.

On a monthly basis, household spending slipped 2.1 percent - again shy of expectations for a gain of 0.3 percent following the 0.9 percent decline a month earlier.

The average of monthly income per household stood at 1,150,808 yen, down 0.4 percent on year.

Overall wages were up 4.8 percent in December, while overtime pay increased 3 percent.

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