Japan's household spending fell at the fastest pace on record in April as the coronavirus shut down travel and dining-out in the world's third-largest economy, and prospects of higher jobs losses chilled consumer sentiment.
The dismal number will keep policymakers under pressure to prevent a larger decline in the economy, which is expected to fall deeper into recession this quarter.
Household spending tumbled 11.1 percent in April from a year earlier, government data showed on Friday, marking the fastest pace of decline since comparable data became available in 2001.