Japan Oct household spending rises for 5th straight month

TOKYO -Japanese household spending rose for a fifth straight month in October from a year earlier, data showed on Tuesday, as easing coronavirus cases prompted more people to shop and eat at restaurants.

An improvement in consumer spending, which accounts for more than half of the economy, is seen as vital for the nation’s economic growth. Accelerating inflation, however, propelled by a weak yen amid a tepid recovery in wages cloud the outlook.

The nation’s real wages posted their biggest fall in more than seven years in October on relentless consumer inflation, separate data showed on Tuesday.

Household spending grew 1.2 percent in October from a year earlier, government data s…

Keep on reading: Japan Oct household spending rises for 5th straight month