Japan Household Spending Sinks 6.6% On Year In February

Japan Household Spending Sinks 6.6% On Year In February

The average of household spending in Japan was down 6.6 percent on year in February, the Ministry of Communications and Internal Affairs said on Tuesday – coming in at 252,451 yen.

That missed expectations for a decline of 5.3 percent following the 6.1 percent annual decline in January.

On a monthly basis, household spending was up 2.4 percent – again missing expectations for an increase of 2.8 percent following the 7.3 percent slide in the previous month.

The average of monthly income per household stood at 535,392 yen, up an annual 0.1 percent.