Japanese household spending fell for a ninth consecutive month in August, although the decline was narrower than expected, government data showed on Friday.
Household spending dropped 3.1% year-on-year, compared with the median market forecast for a 3.6% decline, according to data from Japan’s internal affairs ministry.
On a seasonally adjusted monthly basis, spending edged up 0.1%, falling short of economists’ expectations for a 0.5% increase.
The figures will be among the factors monitored by the Bank of Japan as it considers whether to raise interest rates in the coming months.
Meanwhile, Japan’s real wages recorded their eighth consecutive month of gains in August, according to data released on Wednesday, pointing to a continued recovery in wage growth.
Reuters
