Japan July household spending falls at fast pace
Japanese household spending declined 3.6 percent year on year in July marking the steepest drop in two and a half years. The eighth straight month of decline highlights lackluster private consumption ahead of the upcoming Bank of Japan meeting.
Japan household spending fell 3.6% year-on-year in July, marking the steepest annual drop in 2-1/2 years. The decline exceeded the median forecast for a 1.6% drop and marked the eighth consecutive month of contraction. The data underscores persistent pressure on private consumption ahead of a closely watched policy meeting.
