Japan Household Spending Slumps 3.0% On Year In October

(RTTNews) - The average of household spending in Japan was down 3.0 percent on year in October, the Ministry of Internal Affairs and Communications said on Friday - coming in at 306,872 yen.

That missed expectations for an increase of 1.1 percent following the 1.8 percent gain in September.

On a seasonally adjusted monthly basis, spending sank 3.5 percent - again missing forecasts for a gain of 0.7 percent following the 0.7 percent decline in the previous month.

The average of monthly income per household stood at 599,845 yen, down an annual 0.1 percent.