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Japan's household spending drops in May

TOKYO
2022-07-08 09:33

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TOKYO, July 8 (Xinhua) -- 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).
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