Japan Household Spending Sinks 1.7% In July

(RTTNews) - The average of household spending in Japan slipped a seasonally adjusted 1.7 percent on month in July, the Ministry of Internal Affairs and Communications said on Friday - coming in at 290,931 yen.

That missed forecasts for a decline of 0.2 percent following the 0.1 percent increase in June.

On a yearly basis, household spending added 0.1 percent - again shy of expectations for an increase of 1.2 percent following the 1.4 percent contraction in the previous month.

The average of monthly income per household stood at 694,483 yen, up 5.5 percent on year.