Household spending in Japan falls rapidly

Household spending in Japan fell 4.2 percent year on year in June. Household spending in Japan fell 4.2 percent year on year in June, official data showed. The decline was steeper than the 4 percent decline in May and was the fourth consecutive month of decline. Food continued to account for the largest share of household spending, with the biggest decline seen in spending on furniture and household goods, which fell 17.6 percent year on year. Average monthly consumption expenditure per household was 275,545 yen ($1,932.41) in June, while average monthly income per household was 898,984 yen in June, down 5.6 percent from a year earlier.