Household spending in Japan falls more than expected

In Japan, all household spending fell 4.4 percent annually in April. The data was expected to rise by 2.3 percent. Japanese household spending fell 4.4 percent in April from a year earlier, a bigger drop than the 2.3 percent expected by economists. It was the sharpest decline since July 2021 and the fifth time household spending has fallen in the six months since November 2022. On a seasonally adjusted monthly basis, household spending fell 1.3 percent from March, versus expectations of a 0.6 percent increase.