Japan Household Spending Falls For Third Month

Japan household spending decreased for the third straight month in December, data from the Ministry of Internal Affairs and Communications showed Friday.

Household spending decreased 4.8 percent year-on-year in December, following a 2.0 percent decline in November. The decline was bigger than the forecast of -1.7 percent.

After the sales tax hike, household spending dropped 5.1 percent in October, which was the biggest fall since March 2016.

On a monthly basis, household consumption grew 1.7 percent in December, after a 2.6 percent increase in the prior month.

Elsewhere, data from Ministry of Health, Labor and Welfare showed that total cash earnings remained flat on year in December, after a revised 0.1 percent rise in November. Economists had expected a 0.1 percent decrease.

Contractual gross earnings edged up 0.1 percent in December, while special cash earnings declined by 0.2 percent.

Real wages declined 0.9 percent in December, following a revised 0.6 percent fall in the previous month. This was in line with economists' expectations.



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