Japan's household spending fell 6.3% in January, marking the 11th consecutive month of decline.

Japan's household spending fell 6.3% in January, marking the 11th consecutive month of decline, with households of two or more people spending an average of 289,467 yen. Food expenditure decreased by 2.7%, marking the 16th consecutive month of decline. Transportation and communication costs fell by 13.1% overall and by 30.4% on autos, while electricity and utility expenses decreased by 9.4% due to unseasonably warm weather. Education expenditures increased by 29.6% due to higher admission fees for private junior high schools and high schools. Household spending, accounting for over half of Japan's GDP, is considered a key indicator of private consumption in the country.

March 08, 2024
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