Japan's household spending in December down 0.2% on year

© Kyodo News

Japan's household spending in December fell a real 0.2 percent from a year earlier, declining for the fifth consecutive month, the government said Tuesday.

Average spending by households of two or more people stood at 317,206 yen ($2,700), the Ministry of Internal Affairs and Communications said.

In 2021, the country's average monthly household spending rose 0.7 percent, marking the first increase in two years.

Household spending is a key indicator of private consumption, which accounts for more than half of Japan's gross domestic product.