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Financial News: Japan Household Spending Unexpectedly Falls 1.2%

Japan Household Spending Unexpectedly Falls 1.2%

06/07/2024 - 03:22:00 (RTTNews)

(RTTNews) - The average household spending in Japan decreased unexpectedly in April after rising in the previous two months, the Ministry of Internal Affairs and Communications said on Friday.

Household spending dropped 1.2 percent month-on-month in April, reversing a 1.2 percent gain in March. Meanwhile, economists had expected a 0.2 percent rise.

On a yearly basis, household spending recovered 0.5 percent in April versus a 1.2 percent decline in March. Moreover, this was the first increase since March 2023.

The average monthly income per household stood at 566,457 yen, down 0.6 percent from a year ago.

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