Japan's household spending beats expectations

In Japan, overall household spending rose 1.2 percent annually in October. The data was expected to rise 1 percent. Japanese households increased their spending for a second straight month in October despite rising inflation and falling real wages, giving the final quarter a better-than-expected start. Spending rose 1.1 percent from September, led by gains in the clothing and entertainment sectors, the interior ministry reported on Tuesday. Spending rose 1.2 percent from a year earlier, beating analysts’ forecasts.