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Japan's household spending drops 4.4 pct on year in April

TOKYO
2023-06-06 10:42

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TOKYO, June 6 (Xinhua) -- Japan's household spending declined in April, the government said in a report on Tuesday.

According to the Ministry of Internal Affairs and Communications, household spending dropped 4.4 percent from a year earlier in the recording period.

The fall in household spending in April marked the second consecutive month of decline, according to the ministry's data.

Spending by households with two or more people averaged 303,076 yen (2,172 U.S. dollars) in the reporting period, the ministry said.

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