The average of household spending in Japan slid 0.4 percent on year in October, the Ministry of Internal Affairs and Communications said on Tuesday – standing at 281,961 yen.
That exceeded expectations for a decline of 1.0 percent following the 2.1 percent fall in September.
On a monthly basis, household spending slid 1.0 percent.
The average of monthly income per household stood at 485,827 yen, down 0.1 percent on year. The average of consumption expenditures per household was 305,683 yen, down an annual 1.5 percent.
Also on Tuesday:
• The jobless rate in Japan was a seasonally adjusted 3.0 percent in October, the Ministry of Internal Affairs and Communications said – in line with forecasts and unchanged from the previous month.
The job-to-applicant ratio came in at 1.40, beating forecasts for 1.39 and up from 1.38 in the previous month. The participation rate was 60.4 percent, easing from 60.5 percent a month earlier.
The number of employed persons in October was 64.95 million, an increase of 630,000 or 1.0 percent on year. The number of unemployed persons in October was 1.95 million, a decrease of 130,000 or 6.3 percent on year.
• Retail sales in Japan fell 0.1 percent on year in October, the Ministry of Economy, Trade and Industry said – topping forecasts for a decline of 1.6 percent following the fall of 1.7 percent in September.
On a seasonally adjusted monthly basis, retail sales climbed 2.5 percent – also exceeding expectations for 1.1 percent and up from 0.3 percent in the previous month.
Sales from large retailers shed 1.0 percent on year, missing forecasts for a fall of 0.9 percent following the 3.2 percent tumble a month earlier.
by RTT Staff Writer
For comments and feedback: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
