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Japan Feb household spending falls for 12th month

TOKYO : Japanese household spending fell 0.5 per cent in February from a year earlier, down for a 12th straight month but better than the median market forecast for a 3.0 per cent decline, government data showed on Friday.

When adjusted for the leap year effect of having one more calendar day on Feb. 29 compared to regular years, household spending fell 2.7 per cent in February year-on-year, according to the government's estimate of the data.

On a seasonally adjusted, month-on-month basis, spending increased 1.4 per cent, also better than an estimated 0.5 per cent gain.

Source: Reuters
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