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