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Japan Feb household spending falls for 12th month

Published 04/04/2024, 07:53 PM
Updated 04/04/2024, 07:57 PM
© Reuters. FILE PHOTO: Women are reflected in a window as they pass a boutique in a shopping district in Tokyo, November 26, 2015. REUTERS/Thomas Peter/File photo

TOKYO (Reuters) - Japanese household spending fell 0.5% in February from a year earlier, down for a 12th straight month but better than the median market forecast for a 3.0% decline, government data showed on Friday.

When adjusted for the leap year effect of having one more calendar day on Feb. 29 compared to regular years, household spending fell 2.7% in February year-on-year, according to the government's estimate of the data.

On a seasonally adjusted, month-on-month basis, spending increased 1.4%, also better than an estimated 0.5% gain.

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