Household spending slips 0.7%

Kyodo

Household spending fell a price-adjusted 0.7 percent from the previous year to an average of ¥325,492 in December, falling for the first time in two months, the government said in a preliminary report Friday.

The Internal Affairs and Communications Ministry said consumption is “on a weak note,” maintaining its basic assessment.

Entertainment spending dropped as the cold weather kept consumers in their homes, while spending on housing renovations and TVs also fell, the ministry said.

On the other hand, mobile communications charges rose with the spread of smartphones, while spending on winter clothing rose.