Japan June household spending falls unexpectedly

Japan June household spending falls unexpectedly TOKYO, Aug 7 : Japanese household spending dropped unexpectedly in June from a year earlier, government data showed on Friday, for a seventh straight month of decline. • Consumer spending fell 3.3 per cent year-on-year, data from the internal affairs ministry showed, exceeding the median market forecast for a rise of 1 per cent. • On a seasonally adjusted, month-on-month basis, spending decreased 6.4 per cent versus an estimated drop of 3.1 per cent. • The indicator will be among factors the Bank of Japan will scrutinise as it decides whether to raise interest rates as early as September. • Japan's real wages grew 1.6 per cent in June from a year before, a sixth consecutive month of increases, labour ministry data showed this week. [Image text:] RTAR 110-7737 198 398 369 $ 640 593 198 184