Japan’s household spending falls in October
November 29th, 2011 - 1:36 pm ICT by IANSTokyo, Nov 29 (IANS) The average spending by Japanese households dropped 0.4 percent in October from a year earlier to 285,605 yen (about $3,600), authorities said Tuesday.
The 0.4 percent decline in the recording period was below median economists forecasts for a 1.5 percent drop and follows a 1.9 percent fall logged in September, the Ministry of Communications and Internal Affairs preliminary report figures showed.
October’s reading marked the eight consecutive month of decline, the government data revealed.
Household spending is widely regarded as a key indicator for private consumption, said Xinhua.
The income of salaried households on average was 479,749 yen in the recording period, falling 2.8 percent in real, or price-adjusted, terms, the ministry’s report also showed.
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Tags: authorities, decline, economists, government data, household spending, internal affairs, japan, japanese households, preliminary report, private consumption, tokyo, xinhua, yen