Japan household spending in Dec. falls 1.3%, 2nd decline in row

Japan’s household spending in December fell 1.3 percent from a year earlier for the second consecutive month of decline, as people spent less on residential expenses such as maintenance, according to government data released Tuesday.

Japanese households of two or more people spent an average of 328,114 yen ($2,500), the Ministry of Internal Affairs and Communications said. On a seasonally adjusted basis, spending fell 2.1 percent.

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