Japan Household Spending Falls for Ninth Month
Japanese household spending fell 3.1 percent in August from a year earlier, marking the ninth straight month of decline. The drop was smaller than market forecasts as the Bank of Japan considers its next interest rate decision.
Japan's household spending fell 3.1% year-on-year in August, marking the ninth consecutive month of declines, government data showed on Friday morning. The drop was shallower than the median market forecast of a 3.6% contraction, following a 0.1% seasonally adjusted monthly uptick. The indicator provides critical data for the BoJ as policymakers weigh potential interest rate hikes in coming months.
