Japan household spending falls 5% in July, down for 5th month in row

Japan’s household spending in July fell 5.0 percent from a year earlier, declining for the fifth consecutive month, government data showed Tuesday.

Households of two or more people spent an average of 281,736 yen ($1,900), 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.