Japan March household spending falls 2.9 percent annually
Japanese household spending fell 2.9 percent in March, marking a fourth straight monthly decline. The data comes as the Bank of Japan weighs a June rate hike.
Xurve View
Xurve View
Japan household spending fell 2.9% year-on-year in March, extending a contraction for the fourth consecutive month. The decline more than doubled the 1.3% drop expected by economists in a median market forecast. This consumption weakness complicates the Bank of Japan's decision on whether to raise interest rates in June.
Internal affairs ministry data released Tuesday morning showed a 1.3% seasonally adjusted month-on-month drop in spending. This result missed analyst estimates for a 0.6% increase during the period.
