In March, Japan's average household spending decreased by 1.2% year-on-year, as reported by the Ministry of Internal Affairs and Communications on Friday. The figure was recorded at 318,713 yen, surpassing expectations of a 2.3% decline, succeeding a 0.5% fall in February.
There was, however, a month-to-month rise in household spending by 1.2% based on a seasonally adjusted evaluation. This growth exceeded the predicted decrease of 0.3%, following an increase of 1.4% from the previous month.
The monthly income per household averaged at 513,734 yen, revealing a minimal year-on-year decline of 0.1%.