TOKYO, Dec. 8 (Xinhua) — Japan’s family spending in October fell 2.5 p.c from a yr earlier amid sliding actual wages and hovering costs, authorities knowledge confirmed on Friday.
Households of two or extra individuals spent a median of 301,974 yen (about 2,101 U.S. {dollars}), down for the eighth consecutive month, in response to the Ministry of Internal Affairs and Communications.
By class, meals expenditure, accounting for round one third of family spending, declined for the thirteenth straight month by falling 4.4 p.c, as poor harvests pushed up costs for greens.
Spending on clothes and footwear shrank 9.7 p.c amid sluggish demand for winter garments, whereas expenditures on family sturdy items plunged 24.8 p.c.
Accounting for greater than half of Japan’s gross home product, family spending is a key gauge of personal consumption within the nation.