Japan's Household Spending Falls For Second Consecutive Month

Japanese household spending decreased for the second straight month in November, data from the Ministry of Internal Affairs and Communications showed Friday.

Household spending decreased 2 percent year-on-year in November, following a 5.1 percent decline in October. Although the annual pace of decrease slowed in November, the decline was bigger than the forecast of -1.8 percent.

The October fall was the largest since March 2016 reflecting weak consumption after the sales tax hike.

On a monthly basis, household consumption grew 2.6 percent in November, in contrast to a sharp 11.5 percent decrease in October, data showed.

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