Japan's household spending drops in May

Japan's household spending drops in May

Jul 08, 2022

Tokyo [Japan], July 8: The household spending declined in May from a year earlier in Japan, the government said in a report on Friday.
According to the Ministry of Internal Affairs and Communications, Japan's household spending in the recording period dropped a real 0.5 percent from a year earlier.
Specifically, its statistics bureau said the average spending by households with two or more people stood at 287,687 yen (about 2,115 U.S. dollars) in May.
Household spending is a key indicator of private consumption, which accounts for more than half of Japan's gross domestic product (GDP).
Source: Xinhua