Japanese household spending drops for third straight month, signaling economic challenges.

Japan's household spending fell by 1.3% year-on-year in October, marking the third consecutive month of decline. The drop was influenced by unseasonably warm weather, leading to lower sales of autumn and winter clothing, and reduced spending on home repairs. Food spending also fell by 0.8%, reflecting budget-conscious households. Despite a slight increase in average monthly income, overall consumption remains weak, signaling ongoing economic challenges.

4 months ago
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