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Japan’s households cut spending even as wages kept growing

The Japan Times·Yoshiaki Nohara·21 days ago
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#economicindicators#japaneseeconomy#consumerspending#iranwarendgame#sanaetakaichi#spending
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Spending on food, utilities and clothing also dragged down household spending figure for March.

Spending on food, utilities and clothing also dragged down household spending figure for March. | Bloomberg

Japan’s household spending fell for a fourth consecutive month even as wages continued to grow, highlighting the fragility of consumption.

Outlays by households adjusted for inflation declined 2.9% in March from a year earlier, the Internal Affairs and Communications Ministry reported Tuesday. Economists had forecast a 1.3% drop. Compared with February, spending fell 1.3% on a seasonally adjusted basis.

Transportation and communications made up the biggest drag on spending in March, while food, utilities and clothing also weighed on the figure. On the other hand, households doled out more on essentials like medical care and housing.

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