AFP, Tokyo :
Japan’s household spending fell in December for the 10th consecutive month, the government said Tuesday, the latest in a series of blows to the nation’s faltering growth plan.
Prime Minister Shinzo Abe came to office in December 2012 and launched his “Abenomics” growth plan-a mix of massive monetary easing, government spending and red-tape slashing-but growth remains fragile and inflation well below target.
The world’s third-largest economy has been struggling to reverse years of on-and-off deflation and lacklustre economic growth.
Last week, Japan said it logged its first annual consumer price decline in four years, as weak household spending and meagre wage hikes keep a lid on prices.
Tuesday’s official figures showed that household spending declined 0.3 percent from the year before, though better than market expectations of a 0.9 percent decline.
Japan’s household spending fell in December for the 10th consecutive month, the government said Tuesday, the latest in a series of blows to the nation’s faltering growth plan.
Prime Minister Shinzo Abe came to office in December 2012 and launched his “Abenomics” growth plan-a mix of massive monetary easing, government spending and red-tape slashing-but growth remains fragile and inflation well below target.
The world’s third-largest economy has been struggling to reverse years of on-and-off deflation and lacklustre economic growth.
Last week, Japan said it logged its first annual consumer price decline in four years, as weak household spending and meagre wage hikes keep a lid on prices.
Tuesday’s official figures showed that household spending declined 0.3 percent from the year before, though better than market expectations of a 0.9 percent decline.
