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Japan's household spending drops 1.9 pct on year in March

TOKYO
2023-05-09 10:00

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TOKYO, May 9 (Xinhua) -- Household spending in Japan decreased in March from a year earlier, the government said in a report on Tuesday.

According to the Ministry of Internal Affairs and Communications, household spending in the reporting period fell 1.9 percent from a year earlier.

Spending by households with two or more people stood at an average 312,758 yen (2,300 U.S. dollars) in March, the statistics bureau said.

Accounting for more than half of Japan's gross domestic product, household spending is a key gauge of private consumption.
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