KONTAN.CO.ID - TOKYO. Japan's household spending posted an annual decline for the second consecutive month in April, as broadening price rises hit consumer confidence, casting doubt over the recovery of the world's third-largest economy. Spending improved from the previous month as households showed increasing appetite for services such as eating out, but the month-on-month rise was smaller than expected, suggesting the drag from the pandemic remained. In a sign of trouble for the economy, real wages shrank at the fastest pace in four months in April as prices posted their biggest jump in more than seven years, weighing on household purchasing power.
Japan's Household Spending Falls for 2nd Straight Month
KONTAN.CO.ID - TOKYO. Japan's household spending posted an annual decline for the second consecutive month in April, as broadening price rises hit consumer confidence, casting doubt over the recovery of the world's third-largest economy. Spending improved from the previous month as households showed increasing appetite for services such as eating out, but the month-on-month rise was smaller than expected, suggesting the drag from the pandemic remained. In a sign of trouble for the economy, real wages shrank at the fastest pace in four months in April as prices posted their biggest jump in more than seven years, weighing on household purchasing power.