Japan’s June household spending drops 5.1 pct

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Tokyo

Japan’s household spending fell a real 5.1 percent in June from the same period last year, as a cash hand-out program and economic recovery after the initial shock of the Covid-19 pandemic promoted the pre-vious year’s consumption, government data showed Friday.

According to the Ministry of Internal Affairs and Communications, average spending by households with two or more people in real terms was 260,285 yen (2,370 U.S. dollars), which was the first decline in four months.

To alleviate the economic fallout from the Covid-19 pandemic, the Japanese government began the across-the-board 100,000 yen (910 dollars) cash handout per person in May last year.—AFP

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