Japan household spending falls 2.5% in August

Japan’s household spending in August fell 2.5 percent from a year earlier, declining for the sixth consecutive month, government data showed Friday.

Households of two or more people spent an average of 293,161 yen ($1,975), 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.