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Japan Household Spending, Income Decline in July

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Household spending and incomes in Japan both fell in July, according to government data released Friday.

Average monthly consumption expenditures for two-or-more-person households stood at 301,245 yen, marking a 1.5% decrease in nominal terms and a 3.6% drop in real terms compared with the same month a year earlier.

The pace of the drop was worse than the consensus forecast of a 1.6% decline in real terms, according to Investing.com.

Additionally, worker households recorded lower income in July versus the previous year, with average monthly income slipping 1.7% in nominal terms and down 3.8% in real terms to 689,476 yen.

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