Japan’s household spending declines

Officials at Japan’s internal affairs ministry say spending for all households with 2 or more members in July fell 0.5 percent from a year ago.That’s the 5th straight month of decline. Average monthly household spending was about 278,000 yen, or around 2,700 dollars.The officials attribute the decline to falling car sales following a scandal over falsified fuel economy data.A rise in the tax on mini vehicles also dampened sentiment.Officials also say people refrained from buying overseas package tours due to a series of terrorist attacks abroad. Source: NHK Image: Bank Image Share this:TweetEmail

August 31, 2016

Officials at Japan’s internal affairs ministry say spending for all households with 2 or more members in July fell 0.5 percent from a year ago.

That’s the 5th straight month of decline.

Average monthly household spending was about 278,000 yen, or around 2,700 dollars.

The officials attribute the decline to falling car sales following a scandal over falsified fuel economy data.
A rise in the tax on mini vehicles also dampened sentiment.

Officials also say people refrained from buying overseas package tours due to a series of terrorist attacks abroad.