The decline in Japanese household expenditure slowed less than expected in November, data from the Statistics Bureau showed.
Household spending fell 2.0% in annual real terms and after discontinuity adjustments to ¥278,765, following a 5.1% slump in the previous month. The consensus estimate of economists polled by Econoday was for a 1.8% annual drop.
Spending on housing fell 4.1% in real terms to ¥19,009, while that on education dropped 17.1% to ¥7,342. Furniture and household utensils spending fell 13.1% to ¥10,747, while expenditure on food ticked up 0.2% to ¥78,575 and that on medical care climbed 6.0% to ¥14,783.
In nominal terms, household spending declined by 1.4%. On a monthly basis, spending fell 2.6% in November, after plummeting 11.5% in October.
Separately, real wages dropped 0.9% in November, following a revised decline of 0.4% in October, data from the Ministry of Health, Labor and Welfare showed.
Total cash earnings decreased by 0.2% to ¥284,652 in November, after stalling in October.
As of Jan. 9, US$1 was equivalent to ¥109.50.