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Japan Oct. spending logs 1st fall in 11 months after tax hike english.kyodonews.net

posted by  AkihabaraBot | 5 years, 7 months ago

KYODO NEWS - 2 hours ago - 10:16 | All, JapanJapan's household spending fell for the first time in 11 months in October, hurt by a 2 percent consumption tax hike implemented on Oct. 1 and a powerful typhoon, government data showed Friday.
Before the latest consumption tax increase to 10 percent, household spending had risen sharply, registering a 9.5 percent jump in September, according to the ministry.
Spending fell from a year earlier in almost all of the 10 categories.
Household spending is a key indicator of private consumption, which accounts for more than half of gross domestic product in the world's third-largest economy.
yen stimulus package to prop up slowing growthTax hike to heat up race among eateries to keep customersTax hike adds to woes for low-income households in Japan