TOKYO, Nov 29: Japanese household spending rose 0.9 percent in October from a year earlier in price-adjusted real terms, government data showed on Friday, in a sign that firm domestic demand is supporting the economy albeit at a moderate rate.
The rise matched economists’ median forecast for a 0.9 percent increase in a Reuters poll, and it followed a 3.7 percent gain in the previous month.
Spending was unchanged from September in seasonally adjusted terms as households spent an average 290,676 yen ($2,800), the Ministry of Internal Affairs and Communications said on Friday.
Spending by wage earner households fell 1.0 percent in October from the same month a year earlier. (AGENCIES)
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