Japan’s Jan. household spending falls 0.3%, 3rd decline in row

Household spending in Japan fell 0.3 percent in January from a year earlier for the third consecutive monthly decline, government data showed Friday.

Households with two or more people spent an average of 301,646 yen ($2,215), the Ministry of Internal Affairs and Communications said.

The data is a key indicator of private consumption, which accounts for more than half of the country’s gross domestic product.